Altamira Therapeutics (NASDAQ:CYTO) stock isn’t doing so hot on Monday after the company was given a delisting notice last week.
That delisting notice comes from the Listing Qualifications Department of the Nasdaq Exchange. This is due to it not being in compliance with Nasdaq Listing Rule 5550(b)(1). That rule has to do with the minimum shareholders’ equity requirement of $2.5 million.
This has been an ongoing problem for Altamira Therapeutics after it was first sent a delisting notice over this matter in May 2023. The company was granted an extension to Nov. 21, 2023 to address the deficiency.
What’s Next For CYTO Stock?
Altamira Therapeutics will have to show it has overcome the compliance issue during its next periodic filing. If it fails to do so, the Nasdaq Exchange may choose to delist its shares.
It makes sense that CYTO stock would be down as investors react to news of a potential delisting. Holders of the company’s shares will want to keep an eye on it in the near future to learn its fate.
CYTO stock is down 8.1% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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