FRLN - Freeline slips after disclosing noncompliance with Nasdaq listing rule

U.K.-based clinical-stage biotech Freeline Therapeutics (NASDAQ:FRLN) dropped ~6% in the post-market Friday after the company said that it is not currently in compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq. Informing about its non-compliance on March 31, Nasdaq Stock Market LLC had said that the company had 180 days, or until November 28, 2022, to regain compliance for continued listing of its American Depositary Shares. Until then, the company’s ADSs will continue to trade on the Nasdaq Global Select Market without any impact on its operations. Freeline (FRLN) “if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement,” it added, indicating a potentially extra 180 calendar day period to regain compliance.

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Freeline slips after disclosing noncompliance with Nasdaq listing rule