-- Immutep (ASX:IMM) received a notification from Nasdaq for not complying with the minimum bid price requirement for continued share listing, according to a Thursday Australian bourse filing.
The closing bid price of the company's American depositary shares (ADS) failed to meet the $1-per-share minimum for 30 consecutive business days ended April 24, per the notification.
The company said the notification has no immediate effect on the listing or trading of its ADSs, as Nasdaq has provided an initial compliance period of 180 calendar days expiring on Oct. 26 to regain compliance.
Compliance can be regained if the closing bid price of the ADSs is at least $1 per share for a minimum of 10 consecutive business days during the compliance period, the filing added.
The company said it intends to monitor the bid price and consider available options, noting that there can be no assurance that compliance will be regained.
The company's Nasdaq-listed shares were last trading at $0.48 and have fallen more than 72% over the last 12 months.
The company's Australian shares were down nearly 8% in recent Thursday trade.