Tilray Brands, Inc. ( TLRY ) shares slipped Thursday after the company said it is seeking more time from Nasdaq to restore compliance with the exchange’s continued listing rules tied to its per-share price.

The cannabis and consumer packaged goods firm also signaled it may pursue a shareholder-approved reverse stock split if needed to keep its listing intact.

Tilray has filed a request to extend the window to regain eligibility under Nasdaq standards and is evaluating several capital-structure options, including a potential reverse split, to ensure adherence.

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The move aims to protect its listing while the board reviews next steps.

Chief Executive Irwin Simon said that recent trading strength has followed President Trump’s review of cannabis rescheduling and reflects confidence in Tilray’s diversified platform.

Tilray’s trading levels have appreciated in recent weeks following President Trump’s review of cannabis rescheduling.

Tilray also highlighted momentum in its medical business in Europe. Its medical unit’s wholly owned subsidiary FL Group S.R.L. formed a new distribution alliance in Italy with L. Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A. to broaden access to cannabis extracts for patients, reflecting growing demand and new partnership opportunities across the region.

The extension request underscores Tilray’s effort to maintain its Nasdaq listing while navigating market volatility and evolving U.S. policy signals around cannabis.

A reverse split remains one option to rectify minimum bid price thresholds, as the company balances capital-market requirements with expansion in medical and wellness categories.

Price Action: TLRY shares are trading lower by 6.12% to $1.170 at last check Thursday.

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