Shrugging off Friday’s losses, the shares price of Pulmatrix Inc (NASDAQ:PULM) gained over 29% to close at $4.98. The gains came at a share volume of 5,200 compared to average share volume of 6.61 million. After the recent gain, the market cap of firm stands at 63.51 million.
Last week decline can be attributed to the reported direct offering of 950,000 shares priced at $3.50 a share. Shares jumped 10-fold in January before correcting. The closing date of direct offering is February 8.
More recently, Pulmatrix reported that it has regained listing requirements for NASDAQ. The firm was sent a deficiency notice on January 11, 2017 mentioning its failure to uphold a minimum market value of $5 million.
As previously stated, on January 11 Pulmatrix obtained a notice from the Listing Qualifications Department of the renowned stock exchange Nasdaq indicating that the firm’s common stock has been unsuccessful in maintaining “MVPHS” of $5 million over the preceding 30 consecutive days as mandated by the NASDAQ set forth in Listing guideline 5450(b)(1)(C).
The letter indicated that the firm had 180 calendar days to regain compliance with the listing rule. It further mentioned that if, at any time over this period, the firm’s MVPHS closes at $5 million or more for a minimum of ten successive business days, Nasdaq would give the firm with written confirmation of being achieved compliance with the Listing Rule.
Earlier in February, Pulmatrix obtained a letter from Nasdaq notifying the firm that for the preceding 10 consecutive business days, that is from January 17, 2017 through January 31, 2017, the firm’s MVPHS has been $5 million or greater, and hence, the firm has regained compliance with the listing rule and this discussion is now closed.
Pulmatrix, the firm is focused on the advancement of cure for lung diseases with its pipeline engrained in a technology named iSPERSE.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.