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China SXT Pharmaceuticals, Inc. Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule
TAIZHOU, China, May 10, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company
About this update from China Sxt Pharmaceuticals, Inc.
[{"type":"text","content":"TAIZHOU, China, May 10, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. (\"SXTC\" or the \"Company\"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces (\"TCMPs\"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements (\"TCMHS\"), today announced that on May 4, 2023, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until October 30, 2023, to regain compliance with Nasdaq’s minimum bid price requirement. The Company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period. The Company intends to regain compliance with the minimum bid price requirement on or before October 30, 2023 and is considering all available options, including a reverse stock split if necessary. During this time, the Company's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the Company’s business. About China SXT Pharmaceuticals, Inc.Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com. Safe Harbor StatementThis press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as \"may, \"will, \"intend,\" \"should,\" \"believe,\" \"expect,\" \"anticipate,\" \"project,\" \"estimate\" or similar expressions that do not relate solely to historical matters, it is making forward-looking state...