Universe Pharmaceuticals receives Nasdaq notification over bid price deficiency
Notification of Non-Compliance: Universe Pharmaceuticals received a notification from Nasdaq on October 25, 2024, indicating that it is not in compliance with the minimum bid price requirement of $1.00 per share due to its closing bid price being below this threshold for 30 consecutive business days.
Regaining Compliance Timeline: The company has until April 23, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days, or it may face delisting from the Nasdaq Capital Market.
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UiPath Shares Rise Approximately 9%; Check Out 20 Stocks Making Moves in Premarket Trading
UiPath Financial Results: UiPath Inc. shares rose 8.7% in pre-market trading after reporting third-quarter adjusted earnings of 16 cents per share and revenue of $411.11 million, both exceeding estimates.
Other Gainers: Several stocks saw significant pre-market gains, including Polyrizon Ltd (+158.1%), Nauticus Robotics, Inc (+34%), and Picard Medical, Inc (+22.3%), driven by positive news and developments.
Notable Losers: Virax Biolabs Group Ltd fell 16.2% after announcing a private placement, while Treasure Global Inc declined 13.3% following a reverse stock split and Nasdaq delisting notification.
Market Overview: The pre-market trading session showed a mix of gains and losses across various stocks, with some companies like Axogen, Inc and Hyster-Yale, Inc also experiencing notable increases.
What’s Driving the Rise of Pharmaceutical Stocks XBIO, UPC, XTLB, and ACXP Today?
Pharmaceutical Stock Movements: Several pharmaceutical stocks, including Xenetic Biosciences, Universe Pharmaceuticals, XTL Biopharmaceuticals, and Acurx Pharmaceuticals, saw significant pre-market gains despite no clear news or announcements explaining the rise.
Speculative Trading Influence: The surge in these stocks may be linked to speculative trading following a massive rally in Galecto shares, which spiked without news and then fell, indicating that retail traders are shifting their focus to other stocks for potential gains.
