180 Life Sciences Corp (ATNF) stock lost 7.56% in the after-hours trading as it shed 16.53% in the normal trading on Monday. ATNF shares have lost 20.52% over the last 12 months, and they have moved down by 30.47% in the past week. Over the past three months, the stock has gained 169.58%, while over the past six months, it has shed 23.96%.
Let’s try to figure out the reason behind its negativity.
Nasdaq remind ATNF to lodge Annual Report
On April 19, 2021,180 Life Sciences Corp received a letter from the Nasdaq’s Listing Qualifications Department informing the company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2020.
Nasdaq gives 60 calendar days to ATNF or until June 15, 2021, to file the 2020 Form 10-K with the SEC, otherwise, it has to submit a plan to regain compliance with the Nasdaq Listing Rules
Recognition in Anti-Inflammatory Therapeutics
On March 26, 2021, NetworkNewsAudio and 180 Life Sciences Corp. announced the availability of a broadcast titled, “Controlling Inflammation to Stop Disease.
On March 25, 2021, 180 Life Sciences Corp. announced its placement in an editorial published by NetworkNewsWire (NNW).
Letter to Stockholders
On March 24, 2021, 180 Life Sciences Corp Chief Executive Officer, Dr. James Woody issued a letter to its shareholders.
The letter mainly stated that the company was successful in strengthening its balance sheet and solving legacy-related issues.
Private placement closing announcement
Feb. 24, 2021, 180 Life Sciences Corp closed the private placement of 2,564,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,564,000 shares of common stock at a combined purchase price of $4.55 per share and accompanying warrant.
The warrants have an exercise price of $5.00 per share and expire five years from the date of issuance.
ATNF will get gross proceeds of approximately $11.7 million and it will be used for general corporate purposes, working capital, and research and development.
Participation in the investor conferences
180 Life Sciences Corp participated in the following conference in recent past
- The Inaugural Emerging Growth Virtual Conference, presented by M Vest LLC and Maxim Group LLC which took place on March 17 – 18.
- Biotech Showcase™ Digital 2021 Conference which took place on January 11-15, 2021
We do not have any other news except Nasdaq letter news which could be the reason behind its plummeting on Monday.