ProPhase Labs, Inc. received notification from NASDAQ regarding non-compliance with bid price requirements.
Despite given compliance periods, the company failed to meet NASDAQ's rules, leading to delisting.
Trading of ProPhase Labs' common stock will be suspended from January 5, 2026.
Non-Compliance Notification
Bid price of ProPhase Labs' securities closed below $1 for 30 consecutive business days, violating Listing Rule 5550(a)(2).
Delisting Process
ProPhase Labs provided with multiple compliance periods but did not regain compliance, triggering delisting from NASDAQ Capital Market.
Appeal Opportunity
Company has the option to appeal NASDAQ's determination to the Panel, following specific procedures and paying the required fee of $20,000.
- Delisting from NASDAQ Capital Market indicates a significant setback for ProPhase Labs.
- Investors may experience immediate trading suspension and need to consider the implications on their investment portfolios.
ProPhase Labs faces delisting from NASDAQ due to non-compliance with bid price requirements, marking a challenging period for the company and its stakeholders.