ObsEva stock dips on Nasdaq non-compliance notice

Aug. 22, 2022 4:56 AM ETObsEva SA (OBSV)By: Ravikash, SA News Editor2 Comments

New York during the COVID-19 emergency.

Massimo Giachetti

  • ObsEva SA (NASDAQ:OBSV) received a notice from Nasdaq for failing to comply with the rule of maintaining a minimum of $10M in stockholders' equity for continued listing on the exchange.
  • The company had disclosed in a SEC filing that as of June 30, it had shareholders' equity of ~$2.10M.
  • ObsEva has until Aug. 29 to submit a plan to regain compliance after Nasdaq decided to provide a shortened response time to the company.
  • The company said it intends to submit plan by the date.
  • On July 27, ObsEva stock fell ~78% on plans to restructure following setback for uterine fibroids drug.
  • Earlier in August, the company said it was retiring $31M in debt and had announced $11M debt refinancing.
  • OBSV -4.13% to $0.23 premarket Aug. 22

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