Shares of Helius Medical Technology soared after the company said it has regained compliance with Nasdaq’s listing requirements.
The stock was recently up 76% at $12.97. Shares are still down by more than 50% over the past 12 months.
The neurotech company said Tuesday that on Aug. 31, it received normal notice from the listing qualifications staff at the Nasdaq Stock Market that Helius has evidenced full compliance with the requirement for shares to have a minimum bid price of $1.
Last month, the company enacted a 1-for-50 reverse stock split.