Propanc Biopharma gets Nasdaq bid price deficiency notice

Propanc Biopharma, Inc. disclosed in an 8-K filing that on October 23, 2026, it received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market stating that the company was not in compliance with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market.¹ The determination was based on the fact that the Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share, and the closing bid price of Propanc's common stock over the 30 consecutive business days before October 21, 2026, fell below that threshold.¹

Typically, companies get extra time to fix such deficiencies. Normally a company would be given a 180-calendar day period to demonstrate compliance with the Bid Price Requirement, but under Listing Rule 5810(c)(3)(A)(iv), Propanc is not eligible for that compliance period because it had carried out a reverse stock split within the prior one year.¹

As a result, Nasdaq's notice specifies that Propanc's securities will be delisted from The Nasdaq Capital Market on November 2, 2026, unless the company appeals the determination to a hearings panel by October 30, 2026.¹ Filing such an appeal would pause the delisting process: requesting an appeal stays the delisting, and the company's securities would remain listed on The Nasdaq Capital Market pending the panel's decision.¹ Propanc said it plans to file that appeal before the deadline, stating that it believes the underlying bid price deficiency has already been resolved since the notice was issued.

The company said the notice itself does not change its day-to-day operations or SEC reporting obligations. Propanc stated that receipt of the notice does not affect the company's business, operations or reporting requirements with the Securities and Exchange Commission.¹ However, it warned that an eventual delisting could reduce stock liquidity and price, limit its ability to raise equity capital, restrict use of registration statements for public offerings, and hinder its capacity to grant equity-based incentives to employees, as the company outlined in the filing.¹