Evogene Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
Rhea-AI Summary
Evogene (Nasdaq: EVGN) has successfully regained compliance with Nasdaq's minimum closing bid price rule. The company received formal notification from Nasdaq that it has met the requirement of maintaining a minimum bid price of $1.00 per share for its ordinary shares. This compliance was achieved after Evogene's closing bid price remained at or above $1.00 for 10 consecutive business days. As a result, Nasdaq has closed the prior bid price deficiency matter, and Evogene is now fully compliant with Listing Rule 5550(a)(2).
Positive
- Regained compliance with Nasdaq's minimum bid price requirement
- Avoided potential delisting from Nasdaq
Negative
- None.
News Market Reaction – EVGN
In the trading session that priced this news, EVGN declined 6.74%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
REHOVOT,
The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ordinary shares was at
About Evogene Ltd.:
Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.
Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its five subsidiaries including:
- Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
- Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
- AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI;
- Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
Evogene Investor Contact: | |
Rachel Pomerantz Gerber Head of Investor Relations at Evogene Tel: +972-8-9311901 |
View original content:https://www.prnewswire.com/news-releases/evogene-regains-compliance-with-nasdaq-minimum-closing-bid-price-rule-302219815.html
SOURCE Evogene