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Nasdaq notifies company of non-compliance with the $5M market value listing rule
ARTLArtelo Biosciences, Inc.
The Securities and Exchange Commission approved a new Nasdaq listing compliance rule requiring listed companies to maintain a minimum market value of listed securities (MVLS) of at least $5,000,000. Artelo Biosciences was among approximately 180 companies initially identified as falling below this threshold. Although a temporary stay on the rule was announced in late July and Nasdaq has proposed modifying its operative date pending SEC review, the company acknowledges potential delisting proceedings if the rule is reinstated without modification. The company intends to monitor developments and may consider raising capital through existing at-the-market equity programs or other corporate actions to regain compliance, though no specific course of action has been committed to. Artelo Biosciences operates in the biotechnology industry, focusing on the development of diagnostic technologies.