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Connect Biopharma Holdings Ltd (NASDAQ:CNTB), a $90 million market cap biotech company, announced Thursday that it has regained compliance with the minimum $1.00 per share requirement for continued listing on the Nasdaq Global Market, as outlined in Nasdaq Listing Rule 5450(a)(1).
According to a press release statement based on a recent SEC filing, the company received a letter from the Nasdaq Listing Qualifications Department confirming that it met the minimum bid price requirement. The company’s American Depositary Shares (ADSs) maintained a closing bid price of at least $1.00 for 10 consecutive business days, achieving compliance as of July 15, 2025.
Previously, Connect Biopharma was notified on March 24, 2025, that it was not in compliance with the minimum bid price rule after its ADSs closed below $1.00 for 30 consecutive business days. The company was given until September 22, 2025, to restore compliance.
With the requirement now met, Nasdaq has closed the matter. Connect Biopharma’s ADSs will continue to trade on the Nasdaq Global Market under the ticker symbol CNTB.
All information is sourced from a company press release and SEC filing.
In other recent news, Connect Biopharma Holdings Limited has announced several key developments. The company has regained compliance with Nasdaq’s minimum bid price requirement, ensuring its shares remain listed and traded on the exchange. In collaboration with Simcere Pharmaceutical (TADAWUL:2070), Connect Biopharma has submitted a New Drug Application in China for rademikibart, targeting atopic dermatitis in adults and adolescents. This collaboration could lead to milestone payments and tiered royalties for Connect Biopharma, contingent on achieving specific regulatory and commercial targets. Additionally, Connect Biopharma presented positive clinical data for rademikibart, showing improved lung function and reduced asthma exacerbations in patients with eosinophilic-driven type 2 asthma. The company has also commenced a Phase 2 study for rademikibart as an add-on therapy for acute asthma exacerbations, following FDA approval. This study aims to evaluate the safety and efficacy of the drug, with results anticipated in the first half of 2026. Connect Biopharma’s efforts underscore its commitment to addressing unmet needs in asthma and COPD care.
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