Evogene Ltd. announced on April 2 that it received a letter from the Nasdaq Stock Market indicating the company is not in compliance with Nasdaq Rule 5550(a)(2), as its closing bid price has remained below $1.00 per share for 30 consecutive business days.
This notification means Evogene has until September 28, 2026, to regain compliance with the minimum bid price requirement. The company will return to compliance if its closing bid price reaches at least $1.00 for ten consecutive business days within this period, after which it will receive written confirmation from Nasdaq and the matter will be closed.
If Evogene does not meet this requirement by the deadline, its shares may be subject to delisting from Nasdaq. However, Evogene may become eligible for an additional 180-day period to address the deficiency if it meets other listing standards and provides written notice of its intention to cure the issue during that time frame.
The company said maintaining its listing on Nasdaq remains a key priority and noted that options such as a reverse stock split are under consideration should they become necessary. “The Letter from Nasdaq has no immediate effect on the Company’s Nasdaq listing or the trading of its ordinary shares on Nasdaq, and during the aforementioned cure period, as may be extended, the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol ‘EVGN’. It is further noted that the Letter from Nasdaq has no bearing on Evogene’s listing on the Tel Aviv Stock Exchange, where its ordinary shares are traded under the ticker symbol ‘EVGN’.”
Evogene specializes in computational chemistry focused on generative design of small molecules for pharmaceutical and agricultural industries using proprietary AI technology called ChemPass AI. The company’s approach integrates artificial intelligence-driven molecular design with experimental validation.
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Looking ahead, Evogene said it intends to consider all available options if necessary before September’s deadline in order to regain compliance.
