CollPlant Heads Toward Nasdaq Deadline With Stock at 40 Cents
CollPlant Biotechnologies Ltd. was quoted at $0.3949 before the Friday open on the Nasdaq, staying under 40 cents as investors looked at the company’s strategic review, limited cash, and an upcoming exchange deadline. Shares slipped 1.25% to close at $0.3949 on Thursday. This is an issue now as the stock still trades under the Nasdaq’s $1 minimum bid. The company needs the closing bid—meaning the last quoted bid at the market close—to hit at least $1 for 10 straight business days by Sept. 21, or it won’t fix the problem.