Shares of low-float micro-cap stock Exicure Inc ( XCUR ) are rocketing higher in Wednesday’s after-hours session after the company announced that it received an extension from the Nasdaq Hearings Panel.

What Happened: After the market close, Exicure ( XCUR ) announced that it was granted an extension for continued listing on the Nasdaq exchange. The early-stage biotechnology company must now show compliance with all applicable criteria for continued listing on the Nasdaq by Nov. 14.

Exicure ( XCUR ) announced at the end of last week that it regained compliance with Nasdaq’s minimum bid price requirement and exchanged approximately $1 million of debt for equity at a conversion price of $3 per share.

The company on Wednesday said it’s diligently working to satisfy the remaining terms of the Nasdaq Panel’s requests in order to ensure Exicure’s continued listing.

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Exicure ( XCUR ) shares have more than doubled in extended trading and are now hitting new 52-week highs. Exicure ( XCUR ) is considered a low-float stock with just 1.118 million shares available for public trading, according to Benzinga Pro.

The company also had a market cap of less than $4 million as of Wednesday’s close.

Low-float, micro-cap stocks can be extremely volatile, which may help explain some of Wednesday’s outsized move.

XCUR Price Action: Exicure ( XCUR ) shares were up 206.55% in after-hours, trading at $7.10 at the time of publication Wednesday, according to Benzinga Pro.

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