PLx Pharma slumps on Nasdaq notice for failing to comply with listing rule

PLx Pharma Winddown

11/04/2023 11:32

** Shares of PLx Pharma Inc  PLXP.O  fall ~41% to $0.22
premarket
    ** Co receives notice from Nasdaq determining that PLx had
not regained compliance with minimum bid price rule for
continued listing and was not eligible for a second 180-day
period to regain compliance - Filing
    ** Notice also stated that the co had not yet filed its 10-K
for the period ended Dec. 31, 2022, meaning that PLx no longer
complied with Nasdaq listing rule, company adds
    ** Company does not intend to appeal Nasdaq's determination
and it is expected that co's common stock will be delisted from
the Nasdaq - PLx 
    ** Trading of the common stock will be suspended from Nasdaq
Capital Market when market opens on April 13, unless the company
requests an appeal of Nasdaq's determination - company
    ** As of last close, stock up ~121% YTD

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))