LAS VEGAS - JanOne Inc. (NASDAQ: JAN), a biopharmaceutical company, has successfully regained compliance with Nasdaq's minimum bid price requirement, according to a notification received from the Nasdaq Listing Qualifications Staff on March 13, 2024. The company's common stock has maintained a closing bid price of $1.00 per share or greater over the last 10 consecutive business days, meeting the Nasdaq Listing Rule 5550(a)(2).
The issue of compliance arose when JanOne received a notification on September 11, 2023, from Nasdaq indicating that its closing bid price had fallen below the $1.00 threshold for 30 consecutive business days, failing to meet the minimum requirement. The recent rebound in stock price has led to the closure of this matter, as confirmed by Nasdaq staff.
JanOne focuses on developing non-addictive painkillers and novel treatments targeting the causes of pain, to offer alternatives to opioids. The company is actively involved in funding resources for innovation, technology, and education to address the opioid crisis in the United States.
This news is based on a press release statement from JanOne Inc.
InvestingPro Insights
JanOne Inc. (NASDAQ: JAN) has shown a remarkable turnaround, as evidenced by its latest performance metrics. According to InvestingPro data, the company's market capitalization stands at $13.91 million, with a significant revenue growth of 272.6% in the last twelve months as of Q3 2023. This growth is a testament to JanOne's innovative approach in the biopharmaceutical sector, particularly in the development of non-addictive painkillers.
Investors monitoring the stock's performance will note that JanOne has been trading at a low P/E ratio relative to near-term earnings growth, with a PEG ratio of just 0.22 for the same period. This could indicate potential for future earnings expansion, a factor that could be particularly appealing for growth-oriented investors. Moreover, the company's stock has experienced a strong return over the last month, with a price total return of 157.14%.
For those looking for more in-depth analysis, InvestingPro offers additional insights that could further inform investment decisions. Currently, there are 10 more InvestingPro Tips available for JanOne, which can be found at InvestingPro's dedicated page for JAN. Additionally, investors can use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis.
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