Summary by Futu AI
180 Life Sciences Corp. has announced that it has regained compliance with the Nasdaq's minimum bid price requirement, as per a notification received from The Nasdaq Stock Market LLC on March 13, 2024. The company's common stock had previously failed to maintain the required minimum bid price of $1.00 over a 30-day period, as stated by Nasdaq Listing Rule 5550(a)(2). However, the closing bid price of the company's common stock has now been at or above $1.00 for 10 consecutive business days. Despite this positive development, 180 Life Sciences remains non-compliant with Nasdaq's minimum stockholders' equity requirement, reporting a stockholders' deficit of ($149,327) for the quarter ended September 30, 2023, which falls short of the Nasdaq Capital Market's requirement of at least $2,500,000 in stockholders' equity. The company is exploring various options to address this issue and is hopeful to regain compliance within the granted period. The press release regarding the regained compliance with the bid price requirement was filed on March 14, 2024.