Why Evogene Shares Are Moving – Evogene (NASDAQ:EVGN)

Evogene Ltd EVGN shares are trading lower by 5.9% to $0.63 Thursday morning after the company received a letter from the Nasdaq indicating that the company is not in compliance with the minimum bid price rule.

If Evogene does not demonstrate compliance prior to the end of the 180-day period ending March 18, 2024, the Nasdaq’s staff will notify the company that its ordinary shares will be subject to delisting.

Evogene says the company is emphasizing the importance of staying listed on Nasdaq. If their stock price doesn’t improve within a certain timeframe, Evogene says the company open to exploring options to address this issue, including the possibility of a reverse share split.

According to data from Benzinga Pro, EVGN has a 52-week high of $1.44 and a 52-week low of $0.55.