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Lexicon Pharmaceuticals Receives Additional Compliance Period from NASDAQ

Strategic Insights

— 1 min read

Lexicon Pharmaceuticals, Inc. received a letter from NASDAQ's Listing Qualifications staff on July 3, 2025, indicating that the company is eligible for an additional 180-calendar day period to regain compliance with the stock exchange's minimum $1 bid price requirement. This extension will give the company until December 30, 2025, to meet the requirement, which involves maintaining a closing bid price of at least $1 per share for ten consecutive business days.

The company will transfer its common stock from the NASDAQ Global Select Market to the NASDAQ Capital Market on July 7, 2025, as a result of applying for the additional compliance period. To maintain listing on the Capital Market, Lexicon Pharmaceuticals must ensure it meets the continued listing requirements, including market value of publicly held shares and other applicable conditions. The company will also need to provide additional supporting information, such as its intent to cure the deficiency through a reverse stock split, if necessary.

Key Takeaways:

  • Lexicon Pharmaceuticals has been granted an additional 180-calendar day period to regain compliance with NASDAQ's minimum $1 bid price requirement.
  • The company's common stock will be transferred to the NASDAQ Capital Market on July 7, 2025.
  • To maintain listing on the Capital Market, Lexicon Pharmaceuticals must meet the continued listing requirements, including market value of publicly held shares and other applicable conditions.
  • The company is subject to meeting the $1 bid price requirement and providing additional supporting information, such as its intent to cure the deficiency through a reverse stock split, if necessary.
  • The extended compliance period will last until December 30, 2025.

Statistics:

  • The additional compliance period granted to Lexicon Pharmaceuticals is 180 calendar days, which will expire on December 30, 2025.
  • The company must maintain a closing bid price of at least $1 per share for ten consecutive business days during the extension period.
  • The transfer of Lexicon Pharmaceuticals' common stock to the NASDAQ Capital Market is scheduled for July 7, 2025.
  • The company's stock is currently listed on the NASDAQ Global Select Market.

Sources:

  • Form 8-K (Current Report) filed by Lexicon Pharmaceuticals, Inc. with the U.S. Securities and Exchange Commission on July 3, 2025.
  • NASDAQ Stock Exchange guidelines for minimum bid price requirements.

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