Lexaria Bioscience regains Nasdaq compliance, stock to remain listed

Lexaria Bioscience Corp., a Nevada-based company with its headquarters in Kelowna, Canada, has regained compliance with Nasdaq's minimum bid price requirement, according to a statement from the firm. The Nasdaq Listing Rule 5550(a)(2) mandates a minimum bid price, and Lexaria had previously received notice from the exchange regarding a deficiency in this area.

However, the company has now received confirmation from the Hearings Advisor of The Nasdaq Stock Market that it is now compliant. As a result, the previously scheduled hearing regarding the deficiency has been cancelled. Lexaria's common stock will continue to be listed and traded on The Nasdaq Capital Market. The company's Form 8-K filing with the Securities and Exchange Commission (SEC) provided the details of this development.