Vaxart, a clinical-stage biotechnology company, received an extension from Nasdaq to regain compliance with the Bid Price Rule.
The company must meet certain conditions by specified deadlines to maintain its listing on Nasdaq.
Vaxart's management presented a compliance plan to the Nasdaq Hearings Panel, emphasizing changes to the proposed reverse stock split.
Compliance Conditions
Vaxart must obtain stockholder approval for a reverse stock split and demonstrate compliance with Nasdaq Listing Rule 5550(a)(2) by October 17, 2025.
Support from Nasdaq
The Nasdaq Hearings Panel granted Vaxart an extension to implement a plan for regaining compliance with the bid price requirement.
Engagement with Stockholders
Vaxart is engaging directly with stockholders, addressing their questions through virtual events and seeking their support for the reverse stock split proposal.
- The Nasdaq extension is crucial for Vaxart's future success as a vaccine company.
- Meeting the compliance conditions and regaining Nasdaq listing will be pivotal for Vaxart's financial stability and growth.
- The company's communication and engagement strategies with stockholders play a significant role in securing support for the reverse stock split.
Vaxart's positive outcome with the Nasdaq extension underscores its commitment to compliance and future growth. Engaging with stockholders and meeting the set conditions are vital for maintaining its listing and continued success in the biotechnology sector.