Vaxart Receives Extension from Nasdaq to Regain Compliance with Minimum Bid Price Requirement

Vaxart, Inc. (NASDAQ: VXRT) has been granted an extension by the Nasdaq Stock Market to achieve compliance with the $1.00 Minimum Bid Price requirement. The company received a notice back on July 2, 2024, indicating that it was not in compliance with the Bid Price Requirement for continued listing on The Nasdaq Capital Market.

On December 31, 2024, Nasdaq issued an Extension Letter to Vaxart, providing the company with an additional 180-day compliance period until June 30, 2025, to meet the Bid Price Requirement. This extension was granted based on Vaxart’s fulfillment of the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing, except for the Bid Price Requirement. The company has informed Nasdaq of its intention to address the deficiency during this extended period, potentially through a reverse stock split if necessary.

Despite the initial notice, Vaxart’s common stock remains listed on The Nasdaq Capital Market. The company was initially given until December 30, 2024, to regain compliance by maintaining a minimum closing bid price of at least $1.00 per share for ten consecutive trading days. With the recent extension, the deadline has been pushed to June 30, 2025.

During this extended period, if Vaxart’s common stock maintains a closing bid price of at least $1.00 per share for ten consecutive business days, Nasdaq will confirm compliance in writing, resolving the matter. However, failing to meet this requirement by the new deadline could prompt Nasdaq to initiate the delisting process, allowing Vaxart an opportunity to appeal the decision.

Vaxart has expressed its commitment to actively monitor the closing bid price of its common stock and explore strategies to meet the Bid Price Requirement. The company acknowledges the uncertainty of achieving compliance and the need to adhere to other listing standards for The Nasdaq Capital Market.

This announcement contains forward-looking statements that are subject to various risks and uncertainties. Factors such as Nasdaq compliance, market conditions, operational losses, and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission could impact actual results. Vaxart has emphasized its obligation to provide updates regarding these matters as required by law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vaxart’s 8K filing here.

About Vaxart

Vaxart, Inc, a clinical-stage biotechnology company, discovers and develops oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company’s product pipeline includes norovirus vaccine, a bivalent oral tablet vaccine in Phase 2 clinical trial for the GI.1 and GII.4 norovirus strains; coronavirus vaccine, which is in Phase 2 clinical trial, for the treatment of SARS-CoV-2 infection; seasonal influenza vaccine, which is in Phase 2 clinical trial, to treat H1 influenza infection; and human papillomavirus therapeutic vaccine, which is in preclinical stage, that targets HPV-16 and HPV-18 for cervical cancers and precancerous cervical lesions.