02:44 PM EDT, 07/25/2024 (MT Newswires) -- Purple Biotech ( PPBT ) said Thursday it received a 180-day extension to regain compliance with a rule requiring the company's shares to be traded at least $1 apiece to maintain its listing on the Nasdaq Capital Market.

The pharma company now has until Jan. 21 to lift the closing price of its American depository shares for at least 10 days in a row to meet the minimum bid price requirement.

Purple Biotech ADS recently were more than 7% higher Thursday afternoon at $0.38 each.

Price: 0.38, Change: +0.03, Percent Change: +7.38