Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) shares are trading lower by 6.03% to $2.96 during Thursday’s pre-market session. The company announced Thursday that it has regained compliance with the minimum bid price requirement for continued listing on the Nasdaq.
Tonix's shares had a closing bid price at or above $1.00 per share for a minimum of 10 consecutive business days, which means Tonix's stock had regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq.
Tonix on Monday, May 16 announced that it will implement a 1-for-32 reverse stock split of its outstanding common stock. This split became effective for trading purposes as of the commencement of trading on May 17.
See Also: Why C3.Ai Shares Are Getting Hammered Today
Tonix Pharmaceuticals is a clinical-stage biopharmaceutical company.
According to data from Benzinga Pro, Tonix Pharmaceuticals has a 52-week high of $45.44 and a 52-week low of $1.91.
