COMMACK, N.Y. - Scienture Holdings Inc. (NASDAQ:SCNX) received approval from Nasdaq for a 180-day extension to meet the exchange's minimum bid price requirement of $1.00 per share, according to a press release statement. The stock currently trades at $0.34, down 64% over the past year and 53% in the last six months.
The pharmaceutical holding company was notified Monday that it has until October 12, 2026 to regain compliance with Nasdaq Listing Rule 5810(c)(3)(A). The company's common stock will continue trading on the Nasdaq Capital Market under the symbol SCNX during the extension period.
Nasdaq's approval was based on Scienture meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, except for the bid price requirement. The company indicated its intention to cure the deficiency during the compliance period and, if necessary, effect a reverse stock split.
If the company's stock closes at or above $1.00 per share for a minimum of ten consecutive business days during the extension period, Nasdaq will provide written confirmation of compliance.
Scienture recently introduced Arbli, a liquid formulation of losartan for hypertension treatment. The company stated it plans to launch Rezenopy, a naloxone nasal spray, in the second quarter of 2026.
The company acknowledged there is no assurance it will regain compliance or maintain compliance with other Nasdaq listing criteria.
Scienture Holdings operates through its subsidiary Scienture LLC, focusing on developing and distributing specialty pharmaceutical products. The notification has no immediate effect on the listing or trading of the company's stock.
In other recent news, Scienture Holdings Inc. reported a significant net revenue increase of 216% for 2025, reaching $431,609 compared to $136,643 in 2024. The company's gross margin improved substantially to 76.8% from the previous year's 4.0%. Despite this growth, Scienture recorded a net loss from continuing operations of $41.5 million, which included a one-time, non-cash impairment charge of $26.3 million. Excluding this charge, the net loss showed a slight improvement of approximately $37,000 year-over-year. Scienture also completed the acquisition of Rezenopy, a naloxone nasal spray, in March 2025. The company announced securing multiple Group Purchasing Organization agreements for Rezenopy, providing access to over 5,000 healthcare institutions. Additionally, Scienture reported progress with its liquid losartan formulation, Arbli, and confirmed plans to launch Rezenopy in the second quarter of 2026. The company has secured pharmacy benefit manager rebate agreements and institutional GPO contracts for Arbli, expanding its reach to more than 2,500 healthcare institutions.