Lunai Bioworks regains compliance with Nasdaq minimum bid price rule

Lunai Bioworks (LNAI) has regained compliance with Nasdaq’s minimum bid price requirement. On April 14, Nasdaq Staff notified the Company that its common stock had failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days, as required by Listing Rule 5550(a)(2). However, Staff has since determined that for the 11 consecutive business days from September 30 through October 14, the closing bid price of Lunai Bioworks’ common stock was at or above $1.00 per share. As a result, the Company has now regained compliance with the rule and remains eligible for continued listing on The Nasdaq Capital Market.