Scinai Immunotherapeutics Ltd. Sponsored Adr (SCNI) has released an update.
Scinai Immunotherapeutics Ltd. has been notified by Nasdaq of a potential delisting due to non-compliance with the minimum bid price requirement but has appealed the decision and is seeking to rectify the issue through a reverse stock split. The company’s proposed ratio change, if effective before the hearing, could resolve the non-compliance and make the hearing unnecessary. Scinai continues to trade on Nasdaq while awaiting the hearing and is optimistic that the reverse split will adjust the ADS price sufficiently to meet Nasdaq’s requirements.
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