Mangoceuticals granted 180-day extension to meet nasdaq minimum bid price requirement and conditional approval of compliance with nasdaq's minimum stockholders' equity requirement

Dallas, texas, may 02, 2024 (globe newswire) -- mangoceuticals, inc. (nasdaq: mgrx) (“mangorx” or the “company”), a company focused on developing, marketing, and selling a variety of men's health and wellness products in the area of erectile dysfunction (ed), hair growth and hormone replacement therapies, today announced that the company received written notification from the listing qualification department of the nasdaq stock market llc (“nasdaq”) granting the company's request for a 180-day extension to regain compliance with nasdaq's minimum bid price requirement under nasdaq listing rule 5550(a)(2). the company now has until october 24, 2024 to meet the requirement. on the same date, nasdaq provided notice to the company that based on the company's april 25, 2024, current report on form 8-k filing, nasdaq has determined that the company complies with nasdaq listing rule 5550(b)(1) (the “rule”) which requires companies listed on the nasdaq capital market to maintain stockholders' equity of at least $2,500,000. however, nasdaq also advised that if the company fails to evidence compliance with the rule upon filing its next periodic report it may be subject to delisting.
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