Lucid Diagnostics Granted Extension by Nasdaq to Regain Compliance with Minimum Bid Price Requirement

Lucid Diagnostics Inc. (NASDAQ:LUCD) recently disclosed in an 8-K filing that it has been granted an extension by The Nasdaq Stock Market to regain compliance with the minimum bid price requirement. The letter from Nasdaq’s Listing Qualifications department notified the company that it would have an additional 180 calendar days, extending the deadline until June 16, 2025.

The extension comes as a response to a prior notification on June 21, 2024, where Lucid Diagnostics received a letter stating that the closing bid price of its common stock had been below the required $1 per share for the prior 30 consecutive business days, as mandated under Nasdaq Listing Rule 5550(a)(2). The initial notification granted the company 180 calendar days to regain compliance, which expired on December 18, 2024. Despite not meeting the criteria within the initial period, Nasdaq deemed Lucid Diagnostics eligible for the additional 180-day window.

To meet compliance standards, Lucid Diagnostics’ common stock must maintain a closing bid price of at least $1 per share for a minimum of ten consecutive business days during the extended timeframe. The company has expressed its intention to explore all available options in order to meet Nasdaq’s listing requirements.

It is important to note that the Nasdaq notification does not currently impact the trading of Lucid Diagnostics’ common stock, which will continue uninterrupted under the symbol “LUCD.”

Additionally, the 8-K filing confirmed that the company’s Chief Financial Officer, Dennis McGrath, has signed the report on behalf of Lucid Diagnostics in compliance with the Securities Exchange Act of 1934.

For further details and disclosures, interested individuals can access the full filing on the SEC’s EDGAR database.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lucid Diagnostics’s 8K filing here.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.