Estrella Immunopharma (ticker: ESLA) received a formal warning letter from Nasdaq on August 17, 2026, because its stock closed below $1.00 per share for 30 straight business days (July 6 through August 14, 2026), putting it out of compliance with the exchange's $1.00 minimum bid price rule. The stock keeps trading normally under 'ESLA' for now — this is not an immediate delisting. The company has 180 days, until February 16, 2027, to get the price back above $1.00 for at least ten consecutive trading days; if it misses that deadline, it may qualify for a second 180-day window, otherwise it faces delisting proceedings (with a right to appeal to a Nasdaq hearings panel), and a reverse stock split is one typical fix.
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