NEW YORK, June 8, 2026, 17:03 (EDT)
- SmartKem shares last traded at $0.84, following a steep, high-volume jump in Monday’s session.
- SRx Health Solutions has bought a 4.99% stake in SmartKem and picked up convertible preferred securities in the company.
- SmartKem’s stock is still trading under $1. That’s the minimum Nasdaq bid price the company has to reach by Sept. 1.
SmartKem Inc. shares jumped about 100% Monday after SRx Health Solutions disclosed a 4.99% equity stake in the advanced-materials firm. The move gave traders a new reason to buy into a stock that’s still facing Nasdaq listing concerns.
The stock was last seen at $0.84 on the Nasdaq, up $0.4404 from yesterday. It has traded from $0.4537 up to $1.135 so far. Volume was over 268 million shares, well above normal. The company is small and trading has been volatile lately.
What matters now is that the deal brings in a fresh outside investor as SmartKem is still working to shore up its balance sheet, pay for operations, and hold onto its Nasdaq spot. SRx said at 12:07 p.m. ET it got the stake through a shelf takedown—securities sold from an existing registration—and also picked up convertible preferred securities. Those can turn into common shares if certain terms are met.
SRx and EMJ Crypto Technologies, which is merging with SRx, called SmartKem a leader in advanced materials in their release. The companies didn’t say how much they invested.
SmartKem’s investor-relations site late Monday still listed its latest company press release as a Feb. 6 debt-conversion update. Back in that release, SmartKem said roughly $2.0 million in accounts payable got turned into common shares and pre-funded warrants. The implied price was $2.75 per share with no cash changing hands.
Organic thin-film transistor tech developer says its semiconductor platform can go into MicroLED, LCD, AMOLED displays, as well as computer and AI chip packaging, sensors and logic. The company reported first-quarter revenue of $20,000 in its latest filing, down from $23,000 a year ago. That revenue came from sales of OTFT backplanes and TRUFLEX materials sold for customer testing and development.
SmartKem is still in the middle of a strategy review, according to the same filing. The company said in the first quarter it moved its patent portfolio to a third party but kept process and formulation IP, holding onto 40 trade secrets.
Universal Display added 3.2% but Kopin barely budged, up 0.2%. The gains didn’t spread across display tech names, with the move seeming more isolated to the company.
SmartKem has been looking to broaden its materials focus past displays. In February, CEO Ian Jenks said a planned deal with Carbonium Core could help create “a secure, domestic supply chain” for nuclear graphite. Nuclear graphite is used in some newer reactor designs. SmartKem said the deal still needed due diligence, a final agreement and approvals. Smartkem, Inc.
But risks remain. In its first-quarter filing, SmartKem said there was “substantial doubt” it could keep operating as a going concern. The company reported $7.6 million in cash as of March 31, which it said isn’t enough to cover operating and capital costs for a year. SmartKem said it might have to cut back its operations or look at bankruptcy or insolvency protection if it can’t raise more capital soon. Equisolve Equisolve
Listing risk still hangs over SmartKem. The company said in March that Nasdaq gave it until Sept. 1 to fix a listing issue—its shares need to close at or above $1 for at least 10 straight business days. In April, SmartKem announced it met Nasdaq’s equity rule but the bid-price deadline still stands, and a one-year panel monitor is in place.
Right now, the market is moving on the headline. The bigger question is if the SRx stake delivers anything more than a quick squeeze in a stock that’s still trading under Nasdaq’s minimum and linked to a company saying it needs more funding.
