Relmada Therapeutics (NASDAQ:RLMD) Receives Notification from Nasdaq Regarding Minimum Bid Price Compliance

Relmada Therapeutics, Inc. has recently received a notice from the Nasdaq Stock Market indicating that the company’s security did not maintain a minimum bid price of $1 per share for the 30 consecutive business days leading up to January 17, 2025. According to Nasdaq Listing Rule 5810(c)(3)(A), Relmada has a 180-day Compliance Period, which concludes on July 21, 2025. During this time, the company can regain compliance if its security maintains a closing bid price of at least $1 for a minimum of ten consecutive business days.

If Relmada opts for a reverse stock split to regain compliance, it must complete the split at least ten business days before the end of the Compliance Period. While Nasdaq’s notification does not immediately impact the listing of the company’s common stock, failure to regain compliance by the end of the Compliance Period could lead to potential delisting.

Relmada Therapeutics has expressed its commitment to closely monitoring the bid price during the Compliance Period and taking necessary actions to meet Nasdaq’s listing requirements. Additionally, the company stated that it will make diligent efforts to maintain the listing on Nasdaq, although there is no guarantee of compliance with the continued listing standards.

In line with the disclosure provided in the Form 8-K filing, Relmada acknowledged the existence of forward-looking statements, noting the inherent uncertainties and risks associated with such statements. The company emphasized its proactive approach to addressing the bid price deficiency and its intent to comply with Nasdaq’s rules to sustain its listing.

It’s essential to note that this represents the latest development for Relmada Therapeutics as it navigates the regulatory landscape to ensure sustained compliance with Nasdaq’s listing standards.

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

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.