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Check-Cap Ltd. (NASDAQ: CHEK) Announces Receipt of Extension to Meet the Nasdaq's Minimum Bid Price Requirement
ISFIYA, Israel, June 23, 2022 /PRNewswire/ -- Check-Cap Ltd. (the "Company" or "Check-Cap") (NASDAQ: CHEK), (NASDAQ: CHEKZ), a clinical stage medical
About this update from Check-cap Ltd.
[{"type":"text","content":"ISFIYA, Israel, June 23, 2022 /PRNewswire/ -- Check-Cap Ltd. (the \"Company\" or \"Check-Cap\") (NASDAQ: CHEK), (NASDAQ: CHEKZ), a clinical stage medical diagnostics company advancing the development of C-Scan®, the first and only patient-friendly, preparation-free screening test to detect polyps before they may transform into colorectal cancer (CRC), announces that on June 22, 2022, it received a letter from The Nasdaq Stock Market LLC (\"Nasdaq\"), notifying the Company that it is eligible for an additional 180 calendar day period, or until December 19, 2022, to regain compliance with the Nasdaq's minimum $1 bid price per share requirement.\nThe Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rule 5550(a)(2) [and 5810(c)(3)(A) on December 23, 2021, and was given until June 21, 2022 to regain compliance. The Company did not regain compliance with the minimum $1 bid price per share requirement during the first 180-calendar-day compliance period and submitted written request to the Staff to afford it an additional 180-day compliance period to cure the deficiency .\nIf at any time before December 19, 2022, the bid price of the Company's ordinary shares closes at or above $1 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Nasdaq Listing Rules, and the matter will be closed.\nAbout Check-Cap \nCheck-Cap is a clinical stage medical diagnostics company aiming to redefine colorectal cancer (CRC) screening through the introduction of C-Scan®, the first and only patient-friendly preparation-free screening test to detect polyps before they may transform into colorectal cancer and enable early intervention and cancer prevention. The Company's disruptive capsule-based screening technology aims to help millions of people to stay healthy through preventive CRC screening. C-Scan uses an ultra-low dose X-ray capsule, an integrated positioning, control and recording system, as well as proprietary software to generate a 3D map of the inner lining of the colon as it travels naturally along the gastrointestinal tract. C-Scan is non-invasive and requires no sedation. It requires no bowel preparation, allowing the patients to continue their daily routine with no interruption. C-Scan is not int...