OBALON THERAPEUTICS, INC. (NASDAQ:OBLN) Files An 8-K Other Events
Item 8.01 Other Events.
On December 16, 2020, Obalon Therapeutics, Inc. (the “Company”) received a written notification from the Nasdaq Listing Qualifications staff confirming that the closing bid price of the Company’s common stock has been $1.00 per share or greater for 10 consecutive business days and that the Company has accordingly regained compliance with the minimum bid requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5450(a)(1). The Company had previously been notified of its non-compliance with this rule on August 6, 2020 after the closing bid price of its common stock had been below $1.00 for 30 consecutive business days.
With the Company’s transfer to the Nasdaq Capital Market effective today and its satisfaction of the minimum bid requirement, the Company is currently in full compliance with the continued listing standards of Nasdaq.