Spruce Biosciences, Inc. (SPRB) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Spruce Biosciences, Inc. faces a significant risk as it navigates the threat of delisting from Nasdaq due to the failure to maintain a minimum bid price of $1.00 for its common stock. Despite transferring its listing to the Nasdaq Capital Market, the company has until April 21, 2025, to meet compliance, potentially through a reverse stock split. Failure to comply could lead to decreased market liquidity, reduced investor interest, and challenges in raising equity financing, ultimately impacting its reputation and business operations. The situation underscores the precarious position the company is in as it strives to maintain its Nasdaq listing and market presence.
Overall, Wall Street has a Hold consensus rating on SPRB stock based on 1 Buy and 3 Holds.
To learn more about Spruce Biosciences, Inc.’s risk factors, click here.
