Pomdoctor faces Nasdaq suspension after shares stay below $1

Pomdoctor Ltd. said Nasdaq staff issued a delisting determination after its shares stayed below $1 for 30 consecutive trading days, according to an announcement cited by Benzinga on Oct. 16.

The decision matters because Pomdoctor completed an 18-for-1 reverse share split in June, a transaction that consolidates existing shares into fewer shares to lift the per-share price, putting it under a Nasdaq policy that can remove the usual 180-day compliance period after a repeat sub-$1 breach.

Pomdoctor said its shares could be suspended as early as Oct. 15 unless it appealed, according to the Benzinga article, which was written by external contributor Bamboo Works and labelled as not edited by Benzinga for content or accuracy. The article said Pomdoctor shares continued trading on Thursday, but it did not cite a company confirmation that an appeal had been filed.

Nasdaq rules generally require listed companies to keep shares above $1. Under the October 2024 policy described in the article, a company that has carried out a reverse split within the prior year can be denied the standard cure period if its stock again trades below that threshold for 30 straight trading days.

Pomdoctor last closed at about $0.71 on Thursday, giving it a market value of about $6.6 million, according to the article. The company listed roughly a year earlier after selling American depositary shares at $4 each, raising about $20 million and reaching a valuation of nearly $500 million, the article said.

The stock had traded above $5 before falling to $0.50 from a $5.42 close on a day last December, according to Bamboo Works. Adjusted for the June reverse split, the article calculated the shares would trade at about $0.0394, or roughly 99% below the IPO price.

Pomdoctor’s latest financial report showed first-half revenue rose to 185 million yuan, or $27.6 million, from 174 million yuan a year earlier, according to the article. Its loss widened to 238 million yuan from 20 million yuan over the same period, which the article attributed mostly to higher operating expenses.

Bamboo Works framed the case as part of a broader Nasdaq effort covering about a dozen Chinese microcap companies whose shares shrank quickly after listing. It said Baijiayun Group was suspended in May last year and MingZhu Logistics was suspended last December under similar circumstances.

The article also said Nasdaq introduced listing rules last year requiring new Chinese listings to raise at least $25 million and keep a public float of at least $5 million. It said China’s securities regulator approved one Nasdaq listing this year, DSC Holdings, which raised $51 million in June and later traded 73% below its IPO price.

Pomdoctor’s announcement gave Oct. 13 as the appeal deadline and Oct. 15 as the earliest suspension date, according to the article.

The article did not provide a new dated hearing schedule or a final Nasdaq decision after Thursday’s continued trading.

Source: Company announcement cited in Benzinga contributor article, Oct. 16, 2026