Propanc Biopharma Receives Nasdaq Bid Price Deficiency Notice

Propanc Biopharma, Inc. (Nasdaq: PPCB) received a written notice from Nasdaq's Listing Qualifications Department that it is not in compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, the company said in an 8-K filed Thursday, Oct. 29.

The notice, dated Oct. 23, is based on the closing bid price over the 30 consecutive business days before Oct. 21. Nasdaq said the company is not eligible for the usual 180-calendar-day compliance period because it had effected a reverse stock split within the prior one-year period.

Delisting timeline

Unless the company requests an appeal to a hearings panel by Oct. 30, 2026, its securities will be delisted from The Nasdaq Capital Market on Nov. 2, 2026. Requesting an appeal stays the delisting, and the shares would remain listed until the panel decides.

The company said it intends to request the appeal by the Oct. 30 deadline, because it believes it has cured the bid price deficiency since receiving the notice.

What it means for trading

Trading continues on Nasdaq while the appeal is pending. The company said the notice does not affect its business, operations or SEC reporting requirements. It also warned that a delisting could reduce the liquidity and market price of its common stock, make it harder to raise equity financing, limit its ability to use registration statements to sell freely tradable securities, and impair its ability to grant equity incentives to employees.

The stock's last close before the filing was $2.11. At that price, the company's market capitalization was about $13.4 million, based on about 6.3 million shares outstanding as of Sept. 23. The share count fell about ninefold within the past year because of the reverse split.

Propanc's CEO, James Nathanielsz, signed the filing.