QualityStocksNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Announces Nasdaq Delisting Notification and Appeal, ADS Ratio Change
Scinai Immunotherapeutics (NASDAQ: SCNI) is a biopharmaceutical company focused on developing inflammation and immunology (“I&I”) biological products and providing CDMO services through its Scinai Bioservices business unit. The company today announced that it has received a staff determination letter on April 30, 2024, from the Listing Qualifications Department of the Nasdaq Stock Market LLC. In the letter, Nasdaq notified the company that, due to its non-compliance with the minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), the company's American Depositary Shares (“ADSs”) would be scheduled for delisting from the Nasdaq Capital Market and would be suspended…