LakeShore Biopharma Receives Nasdaq Delisting Determination

Strategic Insights -

LakeShore Biopharma, a global biopharmaceutical company, has received a determination letter from the Nasdaq Stock Market LLC notifying it of non-compliance with the Bid Price Rule. The company's stock price has been below $1.00 per share for 30 consecutive business days, making it ineligible for the standard 180-day compliance period. The Nasdaq determination also cited the company's 10-for-1 reverse stock split in October 2024 as a reason for the delisting. The company has the right to appeal the determination and has stated that it is evaluating its options, including requesting a hearing before a Nasdaq Hearings Panel.

Key Takeaways:

  • LakeShore Biopharma received a delisting determination letter from Nasdaq on September 11, 2025, citing non-compliance with the Bid Price Rule due to the company's stock price being below $1.00 per share for 30 consecutive business days.
  • The company is not eligible for the standard 180-day compliance period, as it has already effectuated a reverse stock split within the previous one-year period.
  • Nasdaq determined that LakeShore Biopharma's securities will be removed from The Nasdaq Capital Market unless the company requests an appeal or a hearing before a Nasdaq Hearings Panel.
  • The company has the right to request a hearing by September 18, 2025, which would stay the suspension of trading in its securities pending the Panel's decision.
  • LakeShore Biopharma is evaluating its options and considering whether to request a hearing, but there is no assurance that an appeal would be successful or that the company will ultimately regain compliance with Nasdaq listing requirements.
  • The company's management team has expertise in the biopharmaceutical industry and combines local knowledge with global experience.

Statistics:

  • 37 consecutive business days below the $1.00 bid price threshold
  • 10-for-1 reverse stock split on October 1, 2024
  • $1.00 per share minimum bid price required for Nasdaq listing compliance
  • 180-day standard compliance period not applicable due to reverse stock split
  • September 22, 2025: trading in LakeShore Biopharma's securities will be suspended unless an appeal is requested

Sources:

  • LakeShore Biopharma Company's press release, dated September 12, 2025
  • Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule")
  • Nasdaq Listing Rule 5810(c)(3)(A)(iv) (specific basis for delisting determination)
  • LakeShore Biopharma's Annual Report on Form 20-F filed with the Securities and Exchange Commission