GT Biopharma (NASDAQ:GTBP) announced Friday it received an additional 180-day compliance period from Nasdaq to meet the $1.00 minimum bid price requirement.
According to a press release and SEC filing, the company was notified on May 20 that it now has until November 16, 2026, to regain compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum closing bid price of $1.00 per share.
GT Biopharma became eligible for this extension by meeting all other continued listing requirements for the Nasdaq Capital Market, including the market value of publicly held shares, except for the minimum bid price.
Previously, on November 20, 2025, Nasdaq notified the company that its stock had traded below $1.00 for 30 consecutive business days, triggering an initial 180-day period that ended May 19, 2026. Despite a sharp yearly decline, the stock gained 10% over the past week. Bond.az data shows GTBP's market cap is just $13.6 million.
To regain compliance, GT Biopharma's common stock must achieve a closing bid price of at least $1.00 for 10 consecutive business days before the November 16 deadline. The company will monitor the bid price and consider available options.
In other recent news, GT Biopharma dosed its first patient in a Phase 1 trial for GTB-5550 targeting solid tumors and entered an agreement with the University of Minnesota to sponsor a Phase 1a/1b trial. Additionally, the company will restate its financial statements for the quarters ending June 30, 2025, and September 30, 2025, due to an accounting error.
