Lunai Bioworks said Nasdaq confirmed that the company regained compliance with the exchange’s minimum bid price requirement, according to an SEC filing.
- Lunai had implemented a 1-for-8 reverse stock split on May 22.
- Nasdaq placed the company under a one-year monitoring period, during which any bid price non-compliance would not qualify for standard compliance processes.
- LNAI generated significant buzz on Stocktwits, with message volumes shooting up by nearly 20,000%
Lunai Bioworks (LNAI) generated sharp pre-market buzz on Wednesday, with the shares smashing past 100% after the biotechnology firm announced it had regained compliance with Nasdaq’s minimum bid price requirement, removing a key listing overhang.
If the pre-market levels hold after the opening bell, LNAI shares would clock their biggest single-day gains in three months.
LNAI Compliant With Nasdaq’s $1 Requirement
According to an SEC filing, Lunai Bioworks said Nasdaq confirmed that the company regained compliance with the exchange’s minimum bid price requirement, which requires shares to trade at or above $1. Nasdaq had notified the company on April 20 and shared extension letters on May 12, outlining the terms for regaining compliance.
Nasdaq also placed Lunai Bioworks under a one-year monitoring period. During that time, if the company falls out of compliance with the bid price rule again, it will not be eligible for a standard compliance plan or extension period. Instead, Nasdaq could issue a delisting notice.
What Actions Did LNAI Take To Regain Compliance?
At a special stockholders meeting held on May 8, shareholders approved a proposal allowing the company to carry out a reverse stock split in the range of 1-for-3 to 1-for-30, with the final ratio to be determined by the board of directors.
Following shareholder approval, the board implemented a 1-for-8 reverse stock split that became effective on May 22. The move reduced the company’s outstanding shares from roughly 36.3 million to about 4.5 million. The company previously effected a 1-for-10 reverse stock split on September 30, 2025.
LNAI Bulls Eye $10
Retail sentiment surrounding LNAI on Stocktwits flipped to ‘extremely bullish’ from ‘neutral’ a day earlier, while message volumes surged by a whopping 19,900% in the same time frame.
One user highlighted the potential resistance levels, adding that the stock could climb to $10. It is currently trading at around $5.6.
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Another user added that the stock could face compliance challenges if it falls below $3.
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