NEW YORK – Proteomics firm Nautilus Biotechnology said Friday that it has received notification from the Nasdaq that its common stock bid price has closed below the required minimum of $1.00 per share for the last 30 consecutive business days.
In accordance with Nasdaq rules, the company now has 180 calendar days, or until Oct. 28, to regain compliance with the minimum bid price requirement. To do so, Nautilus's stock must maintain a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during that period.
If the company does not regain compliance during this period, it may be eligible for an additional 180-day period during which it can achieve compliance.
Nautilus is developing a single-molecule proteome analysis platform but has failed multiple times to hit development timelines and most recently pushed back the projected launch of its system to late 2026. In February, the company laid off 16 percent of its staff in an effort to extend its cash runway.