New York, May 22, 2026, 09:05 EDT
- BFRG was quoted at $0.6519 in premarket trading, down 1.97%, after closing Thursday at $0.6650.
- Nasdaq’s regular U.S. session runs 9:30 a.m. to 4 p.m. ET; the market is scheduled to close Monday, May 25, for Memorial Day.
- BullFrog AI’s latest listed company press release was April 22, when it said it regained compliance with Nasdaq’s shareholders’ equity rule.
BullFrog AI Holdings shares fell in U.S. premarket trading on Friday, putting fresh focus on a thinly traded artificial-intelligence drug-discovery stock that still sits below Nasdaq’s $1 minimum bid rule.
The stock was last shown at $0.6519 before the bell, down 1.97%, after gaining 1.19% on Thursday to close at $0.6650. Its market value was listed at about $12.3 million, with a 52-week range of $0.4251 to $2.04.
Why it matters now is simple: BFRG has until Aug. 10 to regain compliance with Nasdaq’s minimum bid price requirement, a listing rule that requires a stock’s closing bid to hold at $1 or more. The company said in its latest quarterly filing that the notice had no immediate effect on trading, but failure to regain compliance could put its listed securities at risk of delisting.
Friday is not a market holiday. Nasdaq’s regular session is set to run as usual, while Monday’s Memorial Day closure leaves one normal trading day before the long weekend. Premarket trading, which happens before the 9:30 a.m. open, can be thinner and more volatile than the regular session.
There was no fresh company release on BullFrog AI’s investor-relations press-release page in the past 24 to 48 hours. The latest listed release, dated April 22, said BullFrog had regained compliance with Nasdaq’s shareholders’ equity rule, a balance-sheet test that requires listed companies to maintain enough net assets after liabilities.
Founder and Chief Executive Vin Singh said then that the notice was the result of executing “important business objectives, on plan, in the first quarter.” The company said it would remain under a mandatory Nasdaq panel monitor for one year from April 21. BullFrog AI Holdings, Inc.
BullFrog describes itself as a company using artificial intelligence and machine learning — software methods that look for patterns in large datasets — to analyze biomedical data. In March, it announced a commercial agreement with what it called a top-five global pharmaceutical company to use its bfLEAP platform to identify and prioritize drug targets in major depressive disorder, but it did not name the customer.
The numbers are still early-stage. In its May 14 quarterly filing, BullFrog reported no revenue for the three months ended March 31, a net loss of $1.59 million, and cash and cash equivalents of $5.08 million. The filing also said no revenue had yet been recognized under the March feasibility agreement.
The company raised cash in the quarter through stock sales, including about $1.9 million under an at-the-market program and about $5.8 million under an equity line with Lincoln Park Capital. An at-the-market program lets a company sell shares into the market over time; an equity line is a facility that lets it sell shares to a committed investor, subject to limits.
The competitive backdrop is active but uneven. Recursion Pharmaceuticals and Schrödinger are larger listed names in AI-enabled or computational drug discovery; Reuters describes Recursion as a clinical-stage “TechBio” company using systems to map biology and chemistry, while Schrödinger operates a computational platform for molecular discovery. Reuters
Broader market tone was supportive before the open, with U.S. stock futures higher as investors watched U.S.-Iran peace talks and the market headed into the holiday weekend. Peter Cardillo, chief market economist at Spartan Capital Securities, told Reuters the continuation of peace talks remained “a supportive factor for investors.” Reuters
But the downside case is still company-specific: BFRG remains below $1, has not yet shown revenue from the March pharma agreement, and its own filing warned that funding forecasts carry significant assumptions. If milestone payments are delayed or the share price fails to recover, BullFrog may need more capital; selling more stock could dilute existing investors, meaning each current share would own a smaller piece of the company.
