Milestone Pharmaceuticals gets Nasdaq notice for low share price

Milestone Pharmaceuticals Inc. disclosed in an 8-K that on October 23, 2026 it received a deficiency letter from Nasdaq's Listing Qualifications Department. The notice said the company's common shares were not compliant with Nasdaq Listing Rule 5450(a)(1) because the minimum bid price had stayed below $1.00 per share for 30 straight business days.¹

Under Nasdaq Listing Rule 5810(c)(3)(A), Milestone has 180 calendar days, through April 21, 2027, to come back into compliance.¹ To do so, the stock's closing bid price needs to reach $1.00 or higher for at least 10 straight business days during that window.¹ The company said the notice does not currently affect its Nasdaq Global Select Market listing.¹

If Milestone cannot regain compliance by the deadline, it may qualify for a second compliance period by applying to move to the Nasdaq Capital Market, which requires filing a Transfer Application along with a $5,000 fee.¹ That shift would also require the company to satisfy the Capital Market's other initial listing thresholds apart from the bid price rule, and to tell Nasdaq in writing that it plans to fix the price issue through a reverse stock split if one becomes necessary during that second period. Nasdaq staff will evaluate whether they expect the deficiency can be cured, and if they conclude it cannot, or if Milestone opts not to file the transfer request, Nasdaq will issue a delisting notice.¹

Should delisting proceed, Milestone would have the option to appeal to a Hearings Panel.¹ The company said it plans to track its share price and weigh options, including a move to the Capital Market or a reverse split, to try to stay compliant.¹ It cautioned there is no guarantee it will keep its Global Select Market listing, or a Capital Market listing if it transfers.¹