Biodexa ADRs Rise After Successful Appeal of Nasdaq Delisting

Dow Jones10-16

By Stephen Nakrosis

The American depositary receipts of Biodexa Pharmaceuticals were trading in the green in Tuesday's after-hours session, following news the Nasdaq Hearings panel approved the company's request for more time to regain compliance with continued listing requirements.

In the late-trading session, Biodexa's ADRs were trading 53% higher, at $7.65. They ended the day with a 4% loss, closing at $5.01.

The company sought to extend the time it was given to regain compliance with the exchange's $1 minimum bid price requirement.

In September, Biodexa announced a change in its ADR to share ratio from 1 ADR representing 400 shares to 1 ADR representing 10,000 shares. That change took effect earlier this month.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 15, 2024 17:50 ET (21:50 GMT)

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