Acasti Pharma (ACST) Stock Breaks The Major Hurdle: A Bullish Sign?

The Acasti Pharma Inc (NASDAQ:ACST) stock emerged as one of the notable gainers on Wednesday as it surged by as much as 18%. While there was no specific news about the company yesterday, Acasti did make a key announcement earlier this week on Monday.

Acasti Pharma (ACST) Stock Breaks The Major Hurdle: A Bullish Sign?

The company announced that back on May 11 it received a notice from the Listing Qualifications Department at NASDAQ stating that as of May 10 the Acasti share was non-compliant with the $1 minimum bid price requirement rule.

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The stock is subject to getting delisted from the exchange unless Acasti asked for a hearing from the NASDAQ Hearings Panel. In its announcement, Acasti stated that it had expected such a notification from the exchange and has certain options that might help it in regaining compliance. The company revealed that its imminent acquisition of the company Grace Therapeutics Inc is going to help it in this regard.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.