Prana Biotechnology Get Back To Nasdaq's Continued Listings

Prana Biotechnology Limited (ADR)

revealed, in a statement, that it has complied with the continued listing requirements of the Nasdaq. It was served with a notice from the Listing Qualifications Department that its stock's closing bid price should be more than $1.00 a share for the period March 24 and April 7. The stock price never traded below $2.70, which was its 52-week low price. As a result, Prana Biotechnology earned the reprieve from the exchange authorities and got back to the listing rule. That will ensure that the shares of the company remained listed on the Nasdaq Capital Market. According to the company, Prana indicated that it continued to focus on its submission to the FDA to lift the partial clinical hold that restricted the development of its PBT2 in the United States. The company said that its submission is well advanced, and that it was committed to ensuring it is comprehensive and puts the company in the better position to continue to develop PBT2 in the American market. On Friday, the stock gained 0.32%.