Zhengye Biotechnology Holding (NASDAQ:ZYBT) shares are trading lower after the company announced it received a Nasdaq noncompliance notice.
What To Know: Zhengye said it received a letter from the Nasdaq Stock Market on May 20, stating that it is not in compliance with listing rules due to its failure to timely file its annual report for the fiscal year ended Dec. 31, 2024.
The company has 60 calendar days from the date of the notice to submit a plan to regain compliance. If Nasdaq accepts the plan, Zhengye may be granted an extension of up to 180 days, or until Nov. 11 to file the report.
The company said the notice has no immediate effect on the listing of its ordinary shares on the Nasdaq Capital Market.
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ZYBT Price Action: At publication on Monday, Zhengye shares are trading 20.16% lower at $7.43, according to data from Benzinga Pro.
Image: This illustration was generated using artificial intelligence via Midjourney.
