Medicus Pharma regains Nasdaq compliance with minimum bid price rule

Medicus Pharma Ltd. (NASDAQ:MDCX) announced Friday that it has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The company received written notice from the Nasdaq Listing Qualifications Department stating that for the last ten consecutive business days, from October 12 to October 23, the closing bid price of Medicus Pharma’s common shares was at or above $1.00 per share.

The notification follows a previous determination by Nasdaq on October 20, which stated that the company had not met the minimum bid price rule by the required deadline of October 19 and was therefore subject to delisting. The company was initially notified in April that its share price had closed below $1.00 for 30 consecutive business days, triggering a 180-day compliance period. The stock has declined 97% over the past year, falling from a 52-week high of $139 to its current price of $2.50.

Because Medicus Pharma did not meet the minimum $5 million stockholders’ equity requirement for a second compliance period, Nasdaq issued a delisting determination letter on October 20. This determination has now been superseded by the new compliance notice, and the matter is considered closed by Nasdaq.

Medicus Pharma’s common shares and warrants continue to be listed on the Nasdaq Capital Market under the symbols MDCX and MDCXW, respectively.

The company stated there can be no assurance that it will be able to maintain compliance with Nasdaq’s continued listing requirements in the future.

This information is based on a press release statement contained in a filing with the U.S. Securities and Exchange Commission.

In other recent news, Medicus Pharma Ltd. has made several notable announcements. The company reported that certain officers and employees opted to receive restricted common shares instead of cash bonuses. The total cash bonuses awarded on September 4 amounted to approximately $1.45 million, and recipients received a total of 8,529,412 restricted common shares. This decision was based on the closing price of Medicus Pharma’s common shares on September 3, which was $0.1705.

Additionally, Medicus Pharma has mutually agreed with YA II PN, LTD. (Yorkville) to terminate a Standby Equity Purchase Agreement (SEPA) that was initially signed on February 10, 2025. The termination became effective on September 11, with no outstanding borrowings or additional shares to be issued under the agreement. The company stated in its SEC filing that no fees are due from either party in connection with ending the SEPA. These developments reflect recent strategic decisions by Medicus Pharma.