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Novavax faces delisting threat following failed drug trial

Sara Gilgore
Novavax faces delisting threat following failed drug trial

Nasdaq has warned Novavax Inc. that its stock could be delisted if it can’t get the price consistently above a buck within the next six months. The Gaithersburg biotech’s stock has fallen below $1 for 30 consecutive days and the company has 180 days — until Oct. 8 — to regain compliance by getting its common stock bid price up for at least 10 consecutive business days. Novavax plans to hold a special stockholder meeting May 8 to consider a reverse stock split, according to public filings.