Cuprina jumps after Nasdaq compliance update, but risks remain
Cuprina Holdings Limited shares jumped Friday after the biomedical firm said it is back in line with Nasdaq Capital Market rules, easing delisting worries. The Singapore-based company’s Nasdaq-listed stock was recently at $4.20, up roughly 74% from the previous close, and traded between $2.33 and $7.91 in heavy volume, with about 79.3 million shares changing hands. Cuprina’s June 12 filing said Nasdaq staff told the exchange’s hearings department the company is back in compliance with the minimum bid price rule. That rule requires primary securities on the Nasdaq Capital Market to keep a $1.00 minimum bid. Cuprina had missed compliance by May 26, asked for a hearing two days later, and now says the July 7 hearing is cancelled.
