Boston Life Sciences (Boston) said it received notice that it has regained compliance with the bid price requirement for continued listing on the Nasdaq SmallCap Market, calling this "a positive step" in efforts to secure additional capital.
Nasdaq previously notified the company of its plan to de-list its securities from the SmallCap Market for failure to comply with the $1 minimum bid price requirement. The company appealed the delisting. A hearing was scheduled for March 17, but on Feb. 4, the company affected a 1-for-5 reverse stock split to regain compliance with the bid price requirement. During the 10-day trading period ending Feb. 18, Boston Life Science's stock closed at a bid price above $1 on each day, so on Feb. 23, Nasdaq notified the company that it had regained compliance.
Boston Life Sciences develops diagnostic and therapeutic products for central nervous system disorders.