Enzo Biochem (NYSE: ENZ) has received a non-compliance notice from the New York Stock Exchange due to two main issues: (1) its 30-day average market capitalization and stockholder’s equity as of October 31, 2024, were both below $50 million, and (2) its average closing stock price was under $1.00 over a 30-day trading period.
The company has 18 months to address the market capitalization and stockholder’s equity deficiencies, and 6 months to resolve the stock price issue. To regain compliance on stock price, ENZ must achieve a closing price of at least $1.00 and maintain an average closing price of $1.00 over a 30-day period.
ENZ will notify the NYSE by January 23, 2025, of its intention to submit a compliance plan by February 21, 2025. The stock continues to trade on the NYSE while the company explores solutions to meet listing requirements.
Enzo Biochem (NYSE:…
