Trevena Inc. said it received a notice of noncompliance from Nasdaq for failing to meet the exchange's minimum bid requirement for the last 30 consecutive days.

The Chesterbrook, Pa.-based biotechnology company has until June 17, 2019, with a possibility of extension, to regain compliance by maintaining its closing bid price above the minimum requirement of $1 for at least 10 consecutive days.

The notice has no immediate effect, and Trevena shares will continue to trade on the Nasdaq Global Select Market.