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Correction: Progen Pharma Says It Will Not Satisfy Minimum Bid Price Requirement In Timeframe Acceptable To Nasdaq - Quick Facts
(RTTNews) - Correction: The headline of the earlier version of this article incorrectly stated that Progen will satisfy the minimum bid price requirement.
Progen Pharmaceuticals Ltd (PGLA, PGL.AX) provided update relating to Nasdaq Delisting Notification received on June 23, advising that its securities would be delisted from Nasdaq.
Progen has not appealed the determination, as it is unlikely Progen would be able to satisfy minimum bid price requirement in a timeframe acceptable to the Nasdaq.
Progen stated that will monitor feedback moving forward to ensure US shareholders can freely trade and participate as before. The company said it will avoid costs by only having to maintain one listing. The ASX is the primary listing and provides most liquidity for shareholders, the company noted.
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