By Josh Beckerman
American depositary shares of Biophytis declined in post-market trading on Friday after it received a Nasdaq delisting notice. The company said it will request a hearing on the issue, which stays any suspension or delisting.
The shares were down 8.5% to 65 cents. During the regular session they hit a 52-week low of 65 cents before rising to end the week at 71 cents each.
Biophytis, a clinical-stage biotechnology company specialized in the development of therapeutics aimed at slowing the degenerative processes associated with aging, said the notice was due to its non-compliance with the $2.5 million stockholders’ equity requirement.
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