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By Electronic Delivery to: mguerin@onconova.us

Friday, May 5, 2023 1 min read
Key Takeaway: Onconova Therapeutics, Inc. was notified by Nasdaq on March 28, 2023, regarding a failure to maintain a minimum bid price of $1.00 for its shares. However, the Company has since reported compliance, with its stock closing at or above the $1.00 mark for the last 10 consecutive business days. Consequently, the issue related to the Listing Rule 5550(a)(2) has been resolved, allowing the Company to continue its listing without further complications.

Market Sentiment Analysis

POSITIVE FACTORS

  • Onconova Therapeutics has regained compliance with Nasdaq Listing Rule 5550(a)(2).
  • The stock price has been at or above the required $1.00 threshold for the last 10 business days.
  • The matter regarding the non-compliance is now closed.

Full Press Release Details

By Electronic Delivery to: mguerin@onconova.us
Chief Operating Officer & Chief Financial Officer
Onconova Therapeutics, Inc.
On March 28, 2023, Staff notified the Company
that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the
Listing Rules of The Nasdaq Stock Market. Since then, Staff has determined that for the last 10 consecutive business days, from April
21, 2023 to May 4, 2023, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly,
the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.
If you have any questions, please contact me, Listing Analyst, at +1
Nasdaq Listing Qualifications

Frequently Asked Questions

What did Onconova's stock fail to maintain?

Onconova's common stock failed to maintain a minimum bid price of $1.00.

When did Onconova regain compliance with Nasdaq Listing Rules?

Onconova regained compliance on May 4, 2023, after meeting the price requirement.

What was the duration of the stock price issue?

The issue lasted for 30 consecutive business days prior to March 28, 2023.

What is the significance of Listing Rule 5550(a)(2)?

Listing Rule 5550(a)(2) requires a minimum bid price of $1.00 for continued listing.

Who can be contacted for questions about this matter?

Questions can be directed to the Listing Analyst at Nasdaq Listing Qualifications.

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Last updated: May 5, 2023