Propanc Biopharma Gets Nasdaq Delisting Notice Over $1 Bid Price

What happened

Propanc Biopharma, Inc., a Delaware-incorporated pharmaceutical company with its principal executive office in Camberwell, Australia, disclosed in a Form 8-K filed Oct. 29, 2026 that it received a written notice from Nasdaq's Listing Qualifications Department on Oct. 23, 2026.

The notice said the company is not in compliance with the $1.00 minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq determined this based on the closing bid price of Propanc's common stock over the 30 consecutive business days before Oct. 21, 2026.

According to the filing, Propanc's common stock will be delisted from the Nasdaq Capital Market on Nov. 2, 2026 unless the company requests an appeal to a hearings panel by Oct. 30, 2026. The company said it intends to request that appeal by the deadline because it believes it has cured the bid price deficiency since receiving the notice.

The filing states that receiving the notice does not affect the company's business, operations or SEC reporting requirements. Propanc's common stock trades under the ticker PPCB and closed at $2.11 on the event date, unchanged from the prior close, according to the price data.

Why there is no 180-day cure period

Nasdaq rules normally give a company 180 calendar days to regain compliance with the $1 bid price requirement. The filing says Propanc is not eligible for that period under Listing Rule 5810(c)(3)(A)(iv) because the company had previously effected a reverse stock split over the prior one-year period.

A reverse stock split is a corporate action that combines multiple existing shares into fewer shares, raising the per-share price proportionally. In this case, the filing does not state when the split occurred, its ratio, or why the company carried it out. It only says that the prior split is the reason the usual compliance window is unavailable.

What this means

An 8-K is a current report that a US-listed company must file with the SEC when certain material events occur, generally within four business days. Item 3.01 of the form covers notice of delisting or failure to satisfy a continued listing rule, which is the item Propanc checked here.

Nasdaq's $1 minimum bid price rule is a listing standard, not a securities-law requirement. It exists so that listed shares trade at prices the exchange considers workable for investors and market makers. A company trades below that level when its closing bid price stays under $1 for 30 straight business days, which the notice says was the case for Propanc.

The appeal process is separate from the compliance period. Requesting a hearing before a Nasdaq panel stays the delisting, meaning the shares stay on the Nasdaq Capital Market while the panel reviews the case and issues a decision. The filing does not state what arguments Propanc will make or when a panel decision would come.

Propanc's statement that it believes it has cured the deficiency is the company's own assertion and is listed in the filing under forward-looking statements. The filing does not say what the share price has been since the notice, and the price data provided shows a $2.11 close on the event date, above the $1 threshold.

The filing also lists the consequences the company says a delisting could have: reduced liquidity and market price for the stock, fewer investors willing to hold or buy it, limits on using a registration statement to sell freely tradable securities, and difficulty providing equity incentives to employees. These are the company's stated risks, not a prediction of what will happen.