Evofem Biosciences (OTC:EVFM), Inc., a pharmaceutical company based in San Diego, California, is facing potential delisting from the OTCQB Venture Market. The company received a notice on August 28, 2024, from the OTC Markets Group due to its common stock's closing bid price being below $0.01 per share for 30 consecutive trading days.
This notice does not immediately affect the company's listing status on the OTCQB, where its stock, trading under the symbol EVFM, remains active. However, Evofem must regain compliance with the minimum bid price requirement within a 90-day period ending on November 26, 2024. To meet the OTCQB's standards, the company's bid price must close at or above $0.01 for ten consecutive trading days during this timeframe.
Evofem is currently exploring options to address this non-compliance issue and aims to maintain its listing status. The company has stated its intention to actively monitor its stock's bid price and consider all available measures to resolve the deficiency.
The forward-looking statements included in this report reflect the company's current views with respect to future events and are subject to risks, uncertainties, and assumptions.
These statements are not guarantees of future performance, and actual results may differ materially. Evofem has expressed no obligation to update any forward-looking statements following the publication of this report.
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