MREO - Mereo Biopharma receives Nasdaq minimum bid price deficiency letter

Mereo BioPharma (NASDAQ:MREO) said on Thursday it had received a letter from the Nasdaq Stock Market that its American Depositary Shares had failed to maintain a minimum bid price of $1 over the previous 30 consecutive business days as required by the Listing Rules of Nasdaq.  The notification letter does not result in the immediate delisting of the ADSs, the company said. The London-based firm will get a compliance period of 180 calendar days, or until November 21, to regain compliance with Nasdaq’s minimum bid price requirement. "If at any time during this period, the closing bid price of the Company’s ADSs is at least $1.00 for a minimum of 10 consecutive business days, the Company will be deemed to have regained compliance," MREO said in its press release.

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Mereo Biopharma receives Nasdaq minimum bid price deficiency letter