GLMD - Galmed Pharma receives non-compliance letter from Nasdaq

Galmed Pharma (NASDAQ:GLMD) said on Friday it had received a letter from the Nasdaq saying that the Company was not in compliance with the minimum bid price requirement for continued listing, which requires listed securities to maintain a minimum bid price of $1.00 per share. The Company has until December 12 to regain compliance with the minimum bid price requirement. The Company can regain compliance, if at any time during this 180 day period, the closing bid price of its ordinary shares is at least $1 for a minimum of ten consecutive business days, it added.

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Galmed Pharma receives non-compliance letter from Nasdaq