BioPharmX Corp. received a non-compliance notice from the NYSE American LLC on Dec. 1 because its common stock was selling for a low price per share for a substantial period of time.

The company has until June 1, 2018 to effect a reverse stock split or show a sustained price improvement to remain listed on the exchange.

The notice doesn't have an immediate effect on BioPharmX's shares and they will continue trading until the given period.