CollPlant receives non-compliance letter from Nasdaq

CollPlant (CLGN) Biotechnologies announced that on March 23 the Company received a written notice from the Nasdaq Stock Market indicating that the Company was not in compliance with Nasdaq Listing Rule 5550 as the Company’s closing bid price for its ordinary shares, or Ordinary Shares, was below $1.00 per share for the last 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810, the Company has been granted a 180-calendar day compliance period, or until September 21 to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Ordinary Shares must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period.