Noncompliance Notification: Cuprina Holdings received a letter from Nasdaq indicating it no longer meets the minimum bid price requirement of $1 per share, based on its closing bid price over the last 30 business days.
Compliance Period: The company has a 180-day compliance period to regain the minimum bid price, during which it must maintain a closing bid price of at least $1 for ten consecutive days to avoid delisting.
Options for Compliance: If Cuprina fails to regain compliance, it may seek additional time by meeting other listing requirements and potentially executing a reverse stock split.
Current Trading Status: Despite the notification, Cuprina's shares will continue to trade under the symbol "CUPR," and the company is actively evaluating options to achieve compliance with Nasdaq's listing requirements.
Cuprina Holdings (Cayman) Limited is a biomedical and biotechnology company, which is engaged in the development and commercialization of products for the management of chronic wounds, as well as operating in the health and beauty sector. Its segments include Maggot Debridement Therapy Product (MDT) and Cosmeceutical Product. It manufactures and distributes a line of medical grade sterile blowfly larvae bio-dressing products marketed under the MEDIFLY brand name, or the MEDIFLY products. The MEDIFLY products are used as a biological debridement tool for chronic wounds, in a procedure known as MDT, which is an effective alternative to surgical debridement. It has two lines of chronic wound care products in its pipeline, such as Collagen dressings, including sponges, particles and hydrogels utilizing bullfrog collagen derived from the valorization of abattoir waste streams of American bullfrogs (Lithobates catesbeianus) and products utilizing medical leeches for wound treatment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
