Glucotrack to leave Nasdaq after failing bid-price condition
Glucotrack says Nasdaq will suspend trading in its common stock at the market open on October 30, after the company failed to meet a condition for regaining compliance with the exchange’s $1 minimum bid-price requirement. The company plans to seek trading on an OTC Markets venue instead.
- Nasdaq had given Glucotrack an exception to regain compliance, but required the stock to maintain a closing bid of at least $1 on every trading day through November 9, 2026.
- The stock closed at $0.87 on October 14, breaking that condition. Nasdaq’s hearing panel notified the company on October 28 that it had decided to delist the shares.
- Glucotrack expects its common stock to be quoted on OTC Markets after Nasdaq trading is suspended. It intends to apply for trading on OTCID, but that move is not yet assured.
- Nasdaq is expected to take the formal steps to remove the stock from its listing and end its registration on the exchange.
The immediate change is where Glucotrack shares can trade: Nasdaq trading is set to stop, with OTC trading planned as the alternative. OTC markets are distinct from a national exchange such as Nasdaq, and the company’s OTCID application remains a plan rather than a completed transfer.