Psyence Biomedical Receives Nasdaq Extension to Meet Continued Listing Rules

MT Newswires Live11-20

Psyence Biomedical (PBM) said Wednesday it has received extension from Nasdaq through Dec. 31 for demonstrating compliance with all continued listing requirements.

During the hearing, the company provided a plan to the regulator regarding compliance with listing requirements including the $1 minimum bid price rule, the $1 million market value, and the $2.5 million minimum shareholders' equity requirement, Psyence added.

The life science biotechnology company has also asked the regulator to shift it to the Nasdaq Capital Market from the Nasdaq Global Market.

Additionally, Psyence said it received shareholder nod on Nov. 12 for a 1-for-75 share consolidation plan to meet the $1 minimum bid price requirement.

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