Scienture regains Nasdaq compliance

SCIENTURE (SCNX) received a notification letter from The Nasdaq Stock Market stating that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) as the closing bid price of the Company’s common stock has been at $1.00 per share or greater for the previous ten consecutive business days. As previously disclosed, on May 19, the Company received a letter from the Listing Qualifications Staff of Nasdaq indicating that, based upon the closing bid price of the Company’s common stock, for the last 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing as set forth in Nasdaq Listing Rule 5550(a)(2). At that time, the Company was provided a compliance period of 180 calendar days from the date of the letter, or until November 17, to regain compliance.