Sol-Gel Technologies Ltd. announced that it has regained compliance with the Nasdaq Minimum Bid Price Requirement. The company had previously received a notification from Nasdaq on May 21, 2024, indicating that its ordinary shares had closed below $1 per share for 30 consecutive business days, failing to meet Nasdaq's Listing Rule 5550(a)(2). After being granted an additional compliance period until May 19, 2025, Sol-Gel successfully raised its share price, achieving a closing bid price of $1.00 or greater for 13 consecutive business days from May 5 to May 21, 2025. As a result, Nasdaq has now closed the prior bid price deficiency matter.
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