Stellar Biotechnologies Inc. received a notice of noncompliance from Nasdaq Stock Market LLC for failing to meet the minimum $1 bid price requirement.
The company has an initial grace period of 180 days, or until July 30, to regain compliance with the listing rule.
Stellar noted that the noncompliance notice has no present impact on the listing of its shares on the Nasdaq Capital Market.
The Port Hueneme, Calif.-based biotechnology company said it will monitor the bid price of its stock and consider possible options to regain compliance.
