KALA BIO receives Nasdaq delisting determination over $1.00 minimum bid price
KALA BIO received a Nasdaq Staff Determination Letter on August 27, 2026, stating its common stock closed below $1.00 for 30 consecutive business days and it is out of compliance with the minimum bid price rule. Because the company effected a 1-for-50 reverse stock split on May 11, 2026, it is not eligible for a standard 180-day compliance period, and the company plans to request a Nasdaq Hearings Panel review, which would stay any delisting action while pending.
Key points
- Nasdaq Staff determined the stock closed below $1.00 from July 16, 2026 through August 26, 2026, 30 consecutive business days.
- No 180-day compliance period is available because the company effected a 1-for-50 reverse stock split on May 11, 2026.
- KALA BIO intends to timely request a hearing before the Nasdaq Hearings Panel; a timely request stays suspension or delisting pending the Panel's decision.
- The company states there is no assurance the Panel will grant continued listing or that it will regain compliance.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.