Tenax Therapeutics Inc. was granted an extra 180 days, or until March 12, 2018, to regain compliance with Nasdaq's minimum bid price requirement.

The Morrisville, N.C.-based specialty pharmaceutical company had received a notice from the exchange March 17, stating that it was not in compliance with the minimum bid price requirements for continued listing on the Nasdaq Capital Market.

The company had until Sept. 11 to regain the compliance but was unable to do so.

To regain compliance before March 12, the bid price for Tenax's common stock must close at $1 per share or more for at least 10 consecutive business days.