Nanjing – September 07, 2026 -- Scage Future (Nasdaq: SCAG) has fallen below two separate Nasdaq minimum listing thresholds, receiving deficiency notices tied to both its total market value of listed securities and its market value of publicly held shares.
Nasdaq flags dual shortfalls in 30-day trading review
The Listing Qualifications Department of The Nasdaq Stock Market sent two notification letters dated August 27, 2026. Based on the 30 consecutive business days from July 16 to August 26, 2026, Scage's Market Value of Listed Securities (MVLS) fell short of the required US$50,000,000 minimum under Rule 5450(b)(2)(A). Nasdaq also noted the company fails the alternative Total Assets and Total Revenue standard under Rule 5450(b)(3)(A). A second letter cited the company's Market Value of Publicly Held Shares (MVPHS) falling below the required US$15,000,000 minimum under Rule 5450(b)(2&3)(C) over the same period.
Company gets until February 23, 2027 to regain compliance
Scage has been granted a 180-calendar-day compliance period, running through February 23, 2027. To cure the deficiencies, MVLS must close at or above US$50,000,000 and MVPHS at or above US$15,000,000, each for a minimum of ten consecutive business days; Nasdaq staff retains discretion to extend this observation period up to 20 consecutive business days.
Trading continues, but deficiency indicator to appear on Nasdaq listings
The notices have no immediate effect on the listing or trading of Scage's American depositary shares, which remain on The Nasdaq Global Market under the ticker SCAG. Starting five business days from the notification date, a deficiency indicator will appear alongside the company's quotation data on Nasdaq.com and NasdaqTrader.com, and Scage will be added to Nasdaq's published list of non-compliant companies.
Failure to comply could trigger delisting proceedings or a market transfer
If Scage does not regain compliance within the applicable period, it will receive a delisting notification, which it may appeal to a Nasdaq Hearings Panel. Alternatively, the company may seek to transfer its listing to The Nasdaq Capital Market if it meets that market's continued listing standards.
Latest notices add to a growing list of Nasdaq compliance issues
Scage previously disclosed a June 11, 2026 Nasdaq notification regarding the minimum bid price requirement, with a compliance deadline of December 8, 2026, as well as a separate notice concerning the composition of its audit committee, carrying a remediation deadline of December 22, 2026. The company said its business operations are not affected by the latest notices and that it intends to monitor its market value metrics while evaluating options, including a potential transfer to The Nasdaq Capital Market.