Unicycive Therapeutics Receives Notice of Non-Compliance from Nasdaq

Unicycive Therapeutics, Inc. (NASDAQ: UNCY) recently disclosed in an SEC filing that it had received notice from the Nasdaq Stock Market, LLC regarding its non-compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market.

According to the filing, on January 7, 2025, the company was informed by Nasdaq that for the preceding 30 consecutive business days, the bid price for Unicycive Therapeutics’ common stock had closed below the minimum threshold of $1.00 per share, as stipulated in Nasdaq Listing Rule 5550(a)(2). Consequently, the company was deemed to be out of compliance with the requirement.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the company had until January 6, 2025, a period of 180 calendar days, to rectify the situation and regain compliance. However, as of the specified date, Unicycive Therapeutics had not met the minimum bid price requirement.

Subsequently, on January 7, 2025, Nasdaq granted the company an additional 180 calendar days, until July 7, 2025, to address the non-compliance issue and meet the minimum bid price requirement for continued listing on the exchange.

Unicycive Therapeutics stated its intention to actively monitor the closing bid price of its common stock and explore available options to restore compliance with the Nasdaq Listing Rules within the stipulated timeframe.

Shalabh Gupta, Chief Executive Officer of Unicycive Therapeutics, signed the document on behalf of the company as required by the Securities Exchange Act of 1934.

Investors and stakeholders will be keenly observing the company’s actions in the coming months as Unicycive Therapeutics works towards regaining compliance with Nasdaq regulations.

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

About Unicycive Therapeutics

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.