EVFM - Evofem Biosciences regains approval for Nasdaq listing compliance

Evofem Biosciences (NASDAQ:EVFM) rallies 18.7% higher premarket after it announced that the Nasdaq Hearings Panel has granted its request to continue its listing on The Nasdaq despite the pending outcome of the stockholder vote on its reverse stock split proposal scheduled at its AGM on May 4. The company is currently seeking shareholder approval to implement a reverse stock split of its common stock at a ratio of no less than 1-for-5 shares, and up to 1-for-15 shares. In August 2021, the company received a deficiency letter from the Listing Qualifications Department that it was not in compliance with minimum bid price requirement.

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Evofem Biosciences regains approval for Nasdaq listing compliance