NexGel, Inc. received a Nasdaq deficiency notice on April 22, 2026, for failing to meet the minimum $1.00 bid price requirement, with an initial compliance deadline of October 19, 2026.
Key takeaways
The Company failed to meet the minimum $1.00 per share bid price requirement for 30 consecutive business days.
Nasdaq has granted the Company 180 calendar days, until October 19, 2026, to regain compliance.
Compliance can be achieved if the bid price closes at $1.00 or more for at least 10 consecutive business days.
The Company may be eligible for a second 180-day compliance period if it meets other listing standards.
The Company intends to monitor the bid price and may consider a reverse stock split to cure the deficiency.