Agile Therapeutics, Inc. (Nasdaq: AGRX), a women’s healthcare company, is pleased to announce that Nasdaq has granted them a 180-day extension to regain compliance under Nasdaq Listing Rule 5550(a)(2). This extension gives the Company until August 14, 2023 to meet the requirement, giving them the chance to work towards becoming a compliant Nasdaq-listed company.
The Nasdaq’s extension notice has no immediate effects on the trading of AGRX on the Nasdaq Capital Market. Despite this, investors will still be able to trade shares of AGRX under the same symbol. In order for the matter to close, the bid price of AGRX must close at or above $1.00 per share for a minimum of ten consecutive business days. If that happens, the Company will receive written confirmation of their compliance from the Nasdaq Listing staff.
On August 15, 2022, the Company received a notification from the Nasdaq Listing Qualifications Department that it had failed to meet the minimum bid price of $1.00 per share, as required by Nasdaq Listing Rule 5550(a)(2). With 180 calendar days to regain compliance, the Company is closely monitoring the bid price of its common stock, with the deadline set for February 13, 2023.
If the Company fails to meet the minimum bid price requirement by the Compliance Date, the Nasdaq Listing Qualifications Department will notify them of their impending delisting. The Company can appeal this decision to the Nasdaq Hearings Panel, but there is no guarantee of success.
Agile Therapeutics is revolutionizing women’s healthcare by providing innovative contraceptive options that offer freedom from taking a daily pill. Our initial product, Twirla® (levonorgestrel and ethinyl estradiol) transdermal system, is a groundbreaking non-daily prescription contraceptive based on our proprietary transdermal patch technology, Skinfusion®, designed to deliver medication through the skin. We are dedicated to creating solutions that address the unmet health needs of today’s women.