Rockwell Medical, Inc. (Nasdaq: RMTI), a biopharmaceutical company dedicated to transforming the treatment of iron deficiency and anemia management, today announced that it received notice from The NASDAQ Stock Market LLC (NASDAQ) on May 31, 2022 informing Rockwell Medical that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market. Consequently, Rockwell is now in compliance with all applicable listing standards and its common stock will continue to be listed on The NASDAQ Capital Market.
Rockwell Medical was previously notified by NASDAQ on June 11, 2021 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the minimum bid price rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on May 27, 2022, the eleventh consecutive trading day when the closing bid price of the Company’s common stock was over $1.00.
