SCWorx receives 180-day extension from Nasdaq to meet minimum bid price

SCWorx Corp. (NASDAQ:WORX) announced Monday that it has received a 180-day extension from the Nasdaq Listing Qualifications Department to regain compliance with the exchange’s minimum bid price requirement.

According to a statement based on an SEC filing, Nasdaq previously notified SCWorx on April 16 that the company was not in compliance with the $1.00 per share minimum bid price rule, as the closing bid price of its common stock had remained below $1.00 for 30 consecutive business days between February 26 and April 9, 2025. The company’s financial health indicators raise additional concerns, with InvestingPro data showing a weak overall financial health score and negative returns on invested capital.

On October 8, SCWorx was granted an additional 180 days, until April 6, 2026, to bring its share price back into compliance. The company can regain compliance if its common stock closes at or above $1.00 per share for at least 10 consecutive business days before the deadline.

SCWorx stated that it is monitoring its share price and, if necessary, will implement a reverse stock split as previously approved by shareholders to meet the minimum bid price requirement.

If the company does not regain compliance within the extension period, Nasdaq will provide written notice that SCWorx’s common stock will be subject to delisting. The company would then have the opportunity to appeal the delisting determination to a hearings panel under Nasdaq’s rules, though there is no assurance that such an appeal would be successful.

The extension notice does not immediately affect the listing or trading of SCWorx’s common stock, which will continue to trade on the Nasdaq Capital Market under the symbol WORX.

All information is based on a statement included in SCWorx’s recent SEC filing.

In other recent news, SCWorx Corp. has announced several significant developments. The company renewed an agreement with an existing healthcare partner for a new three-year term valued at approximately $1,692,000, marking a 113% increase compared to the previous contract. Additionally, SCWorx entered into warrant inducement agreements, raising approximately $721,574 in gross proceeds. In leadership changes, Anders Ohlsson was appointed as the new Chief Technology Officer, bringing over 25 years of experience in software engineering and cloud infrastructure.

Furthermore, SCWorx has been granted a 180-day extension by Nasdaq to regain compliance with the minimum bid price requirement of $1.00. The company now has until April 6, 2026, to meet this requirement. Another notable development is the announcement of a new partnership with a leading healthcare supply chain partner, aimed at enhancing SCWorx’s SaaS data management program. These recent activities highlight SCWorx’s ongoing efforts to expand its business operations and strengthen its market position.

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