InMed Notified of Sub-$1 Bid Price, Faces 180-Day Compliance Deadline
InMed received a Nasdaq notice on March 27 after shares closed under $1.00 for 30 straight trading days from February 11 to March 26. InMed has 180 days to post $1.00 closing bids for ten days or face delisting, with extension if market value or reverse split criteria are met.
1. Nasdaq Notice Details
On March 27, 2026, InMed received written notification that its common shares closed below the $1.00 minimum bid requirement for 30 consecutive trading days from February 11 through March 26. The notice confirms continued trading on the Nasdaq Capital Market while the company addresses the deficiency.
2. Compliance Timeline
Under Nasdaq rules, InMed has 180 calendar days from receipt of the notice to achieve a closing bid of at least $1.00 per share for ten consecutive business days. Failure to meet this threshold within the initial period will trigger delisting procedures unless compliance is demonstrated.
3. Extension Criteria
If InMed does not regain compliance in the first 180-day window, it may qualify for a second 180-day extension by maintaining the required market value of publicly held shares and other listing standards, excluding the bid price rule. The company may also effect a reverse stock split to satisfy the bid price requirement.
4. Delisting and Appeal
Should InMed fail to evidence compliance within the allotted period(s), Nasdaq will notify the company of suspension and potential delisting. InMed can appeal to a Nasdaq Hearings Panel, but trading of its common shares would be suspended during the appeal and success is not guaranteed.