SenesTech Gets Nasdaq $1 Bid Warning With 180 Days to Fix It
SNES sits 52% above its 52-week low of $0.55 on light trading volume (0.3× avg).
Summary
Nasdaq notified SenesTech on October 20 that its closing bid had sat below $1.00 for 30 straight business days, putting the company out of compliance with the $1 minimum bid rule for the Nasdaq Capital Market. Trading continues normally under SNES, and the company has until April 19, 2027 to get back above $1.00, needing a closing bid of at least $1.00 for 10 consecutive business days before that date; it may qualify for a second 180-day period if it meets other Capital Market standards. The notice lands on a micro-cap that already flagged a going concern in its Q2 10-Q, with cash runway into Q1 2027, so a reverse split or new financing is now the likely path — and management said it is weighing liquidity against dilution. CEO Michael Edell paired the disclosure with the preliminary Q3 revenue of roughly $1.1 million, up 40% sequentially and 55% year-over-year, the highest in company history. Activist Glenbrook Capital, now at 38.04% after buying 983,804 more shares for $706,057 on October 19, has offered to work with the board on shoring up the balance sheet. Watch for a special meeting or reverse-split announcement ahead of the April 19, 2027 deadline.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — SenesTech must hold a closing bid of at least $1.00 for 10 consecutive business days before April 19, 2027, and may qualify for a second 180-day period if it meets other Capital Market standards.
At the time of this announcement, SNES was trading at $0.84 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4.5M. The 52-week trading range was $0.55 to $3.90. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.