01/02/2026 | Press release | Distributed by Public on 01/02/2026 16:15
As previously reported, on July 1, 2025, FibroBiologics, Inc. (the "Company") received a letter from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that the bid price for the Company's shares of common stock had closed below the minimum threshold of $1.00 per share, as required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Rule"), for the previous 30 consecutive trading day period. In accordance with Listing Rule 5810(c)(3)(A), the Company was provided with a 180-calendar day period to regain compliance with the Rule, through December 29, 2025.
On December 30, 2025, the Company received a second notification indicating that the Staff planned to delist the Company's securities due to the Company's continued non-compliance with the Rule as of December 29, 2025, unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the "Panel"). The Company plans to timely request a hearing before the Panel, which request will stay any further suspension or delisting action by the Staff at least pending the outcome of the hearing and the expiration of any extension that may be granted to the Company by the Panel.
The Company intends to actively monitor the closing bid price of its common stock and evaluate all available options to regain compliance with the Rule. In that regard, the Company filed definitive proxy materials on December 29, 2025, which, among other matters, requests that our stockholders vote to approve a reverse split of our outstanding common stock, at a ratio ranging from any whole number between and including 1 for 5 and 1 for 30 shares, with the ratio to be determined by the board of directors. Although the Company is taking definitive steps to regain compliance with the Rule, there can be no assurance that the Company will be granted an extension to do so or that any actions taken by the Company will be successful in the Company's effort to regain compliance with the Rule.