PolyPid (NASDAQ:PYPD) said it received a 180-day extension to regain compliance with Nasdaq's $1 minimum bid price rule and approval from the exchange to transfer its listing of ordinary shares to The Nasdaq Capital Market from The Nasdaq Global Market .
The company said transfer will become effective June 6.
In April, PolyPid said it received a letter from Nasdaq for not being compliance with the $10M minimum stockholders' equity requirement for continued listing on the Nasdaq Global Market.
PolyPid noted that it has 180 days, or until Dec. 4, to regain compliance with Nasdaq's $1 minimum bid price rule for continued listing on the exchange.