OBSV - ObsEva stock dips on Nasdaq non-compliance notice
- ObsEva SA ( NASDAQ: OBSV ) received a notice from Nasdaq for failing to comply with the rule of maintaining a minimum of $10M in stockholders' equity for continued listing on the exchange.
- The company had disclosed in a SEC filing that as of June 30, it had shareholders' equity of ~$2.10M.
- ObsEva has until Aug. 29 to submit a plan to regain compliance after Nasdaq decided to provide a shortened response time to the company.
- The company said it intends to submit plan by the date.
- On July 27, ObsEva stock fell ~78% on plans to restructure following setback for uterine fibroids drug.
- Earlier in August, the company said it was retiring $31M in debt and had announced $11M debt refinancing.
- OBSV -4.13% to $0.23 premarket Aug. 22
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ObsEva stock dips on Nasdaq non-compliance notice