Milestone Pharmaceuticals has been warned that its shares no longer meet Nasdaq’s minimum-price requirement for continued listing on the Nasdaq Global Select Market. The company has until April 21, 2027, to bring its share price back into compliance; its shares remain listed for now.
Milestone says it will monitor the share price and consider options to address the deficiency, including a possible reverse stock split or a move to the Nasdaq Capital Market.
Key details
- Nasdaq’s notice, received October 23, followed 30 consecutive business days with Milestone’s minimum bid price below $1 per share.
- To regain compliance during the initial 180-day period, the shares must close at $1 or more for at least 10 consecutive business days.
- The notice does not immediately change the shares’ listing status: MIST remains on the Nasdaq Global Select Market.
- If Milestone does not meet the price requirement by April 21, it may qualify for an additional compliance period by applying to transfer its listing to the Nasdaq Capital Market. It would need to meet that market’s other initial listing standards, including its requirement for the market value of publicly held shares, and notify Nasdaq that it intends to address the price issue—potentially through a reverse stock split.
- Nasdaq staff would assess whether Milestone could resolve the deficiency during any additional period. If the company does not qualify for more time or fails to regain compliance within the allowed period, Nasdaq could move to delist the shares. Milestone would have the option to appeal a delisting decision.
What it means
There is no immediate change to Milestone’s listing, but the company must meet Nasdaq’s price test by the deadline to remain on the Global Select Market. A reverse stock split is among the options it says it may consider; the company has not announced that it will carry one out.