Applied DNA Sciences regains compliance with Nasdaq minimum bid price rule

Applied DNA Sciences received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market, informing the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). As previously reported, the Company was notified on July 12, 2024, that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Minimum Bid Price Requirement. To regain compliance with the Minimum Bid Price Requirement, the closing bid of the Company’s common stock needed to be at least $1.00 for a minimum of 10 consecutive business days, with said Compliance Period extendable generally not to exceed 20 consecutive business days pursuant to Nasdaq Listing Rule 5810(c)(3)(H). On September 17, 2024, Nasdaq determined that for the last 20 consecutive business days, from August 19 through September 16, 2024, the closing bid price of the Company’s common stock was $1.00 per share or greater. Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement, and Nasdaq considers this matter now closed.