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Sent via Electronic Delivery to: mguerin@onconova.us

Monday, February 13, 2023 1 min read
Key Takeaway: Onconova Therapeutics, Inc. was informed by Nasdaq on November 7, 2022, that its common stock had not maintained a minimum bid price of $1.00 for 30 consecutive business days. However, the company has since risen to compliance, achieving a closing bid price of $1.00 or greater for the last 10 consecutive business days, from January 30 to February 10, 2023. As a result, the company is now in compliance with Listing Rule 5550(a)(2), and the issue has been resolved.

Market Sentiment Analysis

POSITIVE FACTORS

  • Onconova Therapeutics has regained compliance with Nasdaq listing rules.
  • The closing bid price has been at or above $1.00 for 10 consecutive days.
  • The matter regarding compliance has been officially closed.

Full Press Release Details

Sent via Electronic Delivery to: mguerin@onconova.us
Chief Operating Officer & Chief Financial
Onconova Therapeutics, Inc.
On November 7, 2022, 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 January 30, 2023 to February 10, 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 Patryk Muter, Listing
Analyst, at +1 301 978 8085.
Nasdaq Listing Qualifications

Frequently Asked Questions

What happened to Onconova's stock on November 7, 2022?

On November 7, 2022, Onconova was notified that its stock failed to meet the $1.00 minimum bid price.

When did Onconova regain compliance with Nasdaq Listing Rules?

Onconova regained compliance from January 30, 2023, to February 10, 2023.

What is Listing Rule 5550(a)(2)?

Listing Rule 5550(a)(2) requires stocks to maintain a minimum bid price of $1.00.

Who can be contacted for questions about Onconova's listing?

Questions can be directed to Patryk Muter, the Listing Analyst, at +1 301 978 8085.

Is the compliance matter regarding Onconova now closed?

Yes, the compliance matter regarding Onconova is now closed.

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Last updated: Feb 13, 2023