Scopus BioPharma slumps on Nasdaq deficiency notice

Scopus Biopharma

25/03/2022 12:21

** Shares of drug developer  SCPS.O  fall as much as ~11% to
77 cents before the bell - set to snap its two-day winning
streak, if losses hold 
    ** SCPS, late on Thursday, said it received deficiency
notice from Nasdaq on March 18 (https://bit.ly/3NlVtor)
 
    ** Co says notice indicates SCPS is not in compliance with
Nasdaq's majority independent director requirement and audit and
compensation committee requirements
    ** SCPS says has not been able determine independence of two
new directors elected at annual meeting held in Dec 2021 
    ** Adds that an independent member of audit and compensation
committee was not re-elected at SCPS's annual meeting 
    ** SCPS has 45 days from March 18 to regain compliance 
    ** Up to Thursday's close, SCPS down 47.3% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))