Spruce Biosciences, Inc. (SPRB) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Spruce Biosciences, Inc. is confronted with the significant risk of Nasdaq delisting, due to its stock trading below the minimum bid price requirement. Since receiving a notification from Nasdaq on April 26, 2024, Spruce Biosciences has a limited timeframe until July 30, 2024, to meet the compliance standards. Failure to elevate its stock price above the $1.00 threshold for the required duration could lead to delisting, which would likely diminish market liquidity, depress stock value, and impair the company’s capacity to attract investment and secure financing, thereby potentially harming Spruce Biosciences’ reputation and operational prospects.
The average SPRB stock price target is $2.75, implying 233.41% upside potential.
To learn more about Spruce Biosciences, Inc.’s risk factors, click here.
