ProPhase Labs Inc. said Tuesday it has received a letter from the NASDAQ Stock Market indicating that the company, best known for its Cold-Eeze zinc lozenges for cold sufferers, is not in compliance with NASDAQ listing rules because the closing bid price per share of its common stock has been below the $1-per-share minimum requirement for 30 consecutive trading days.The Doylestown company will be provided with 180 calendar days, or until Dec. 27, to regain compliance with the bid price rule. To regain compliance, the closing bid price of the company’s common stock must remain at $1 or more for a minimum of 10 consecutive trading days.
ProPhase (NASDAQ:PRPH) officials said the company will consider all available options to resolve the deficiency, including a reverse stock split, to regain compliance. Read More