04:22 PM EDT, 11/01/2024 (MT Newswires) -- Universe Pharmaceuticals ( UPC ) said late Friday it was notified by Nasdaq of its noncompliance with the minimum bid price requirement for continued listing.

The company received the notice after the closing share price of its common shares for the past 30 business days, from Sep. 13 to Oct. 24, failed to meet the minimum bid price requirement.

The company said it was given until April 23 next year to regain compliance and may implement a reverse share split or consider other options to meet the requirement.