Key Highlights

● Dyadic International received two Nasdaq deficiency notices at once: a bid price below $1.00 and a Market Value below $35 million.

● Both deficiencies carry an identical March 24, 2027 cure deadline, roughly 180 days from the September 25 notices.

● The company said it will evaluate available options, which could include a reverse stock split, though none has been approved.

● A reverse split could mechanically fix the bid-price issue but would not directly change total market capitalization.

Dyadic International, Inc. (NASDAQ:DYAI), a Jupiter, Florida-based biological products company, disclosed in an 8-K that it received two separate Nasdaq deficiency notices on September 25, 2026, one for its stock's bid price falling below $1.00 and another for its Market Value of Listed Securities falling below $35 million, each carrying a March 24, 2027 cure deadline.

Two Deficiencies, Same Deadline

The bid-price notice reflects that Dyadic's shares failed to maintain a minimum $1.00 per share closing price for 30 consecutive Business days. Separately, the company's Market Value of Listed Securities fell below the required $35 million threshold over that same period, a lower MVLS threshold than the $50 million standard that applies to companies on Nasdaq's Global Market, consistent with Dyadic trading on a different Nasdaq tier. Both deficiencies carry an identical cure deadline of March 24, 2027, giving Dyadic roughly 180 days from the notices to fix either or both issues.

How Compliance Would Be Regained

To cure the bid-price deficiency, Dyadic's stock would need to close at or above $1.00 for a minimum of 10 consecutive business days before the deadline. Similarly, the market-value deficiency would be cured by reaching $35 million in MVLS for 10 consecutive business days. The filing notes that Nasdaq staff retain discretion to extend either cure period, and that if Dyadic is not in compliance by March 24, 2027, it may still qualify for an additional 180-day period provided it meets other Nasdaq Capital Market listing standards. Any adverse delisting determination could also be appealed to a Nasdaq hearings panel.

The Company's Response

Dyadic said in the filing that it intends to actively monitor both the bid price and market-value metrics and will evaluate available Options to regain compliance, which the filing notes could potentially include a reverse stock split, though no such action has been announced or approved as of the filing date.

Dyadic's Business Context

Dyadic International develops microbial protein production platforms, technology the company has looked to apply toward Clinical Trials and third-party collaborations in areas such as Vaccine and Biologics manufacturing. The filing acknowledges the company has a history of net losses, which provides some backdrop for why its share price and overall market value have come under pressure, though the 8-K does not tie the deficiency notices to any specific financial event or disclose current cash position.

Two Deficiencies at Once Is a Warning Sign Worth Noting

Receiving simultaneous bid-price and market-value deficiency notices on the same day, as Dyadic disclosed here, generally reflects a sustained decline across both metrics rather than an isolated technical issue with one. Because both standards are measured over the same rolling 30-business-day window and share the same March 24, 2027 cure deadline, any remediation step effective enough to lift Dyadic's share price, including the reverse split option the company flagged as under consideration, would likely help address both deficiencies simultaneously, since a reverse split mechanically raises share price without directly changing total market Capitalization on its own.

What a Reverse Split Would and Wouldn't Fix

A Reverse Stock Split consolidates existing shares into fewer, higher-priced shares, which can cure a bid-price deficiency relatively quickly once implemented. It would not, however, directly change Dyadic's overall market value unless investor sentiment about the company also shifts, since the same total market capitalization would simply be divided among fewer shares. The filing does not indicate that Dyadic has finalized a decision to pursue that route, only that it is one option being evaluated.

Dates and Options Investors Should Track

March 24, 2027 is the cure deadline for both the bid-price and market-value deficiencies. A reverse stock split is mentioned as a potential option under consideration, though not yet approved or scheduled. Nasdaq staff have discretion to extend either cure period, and an additional 180-day period may be available if Dyadic meets other Capital Market standards. Any eventual delisting determination could be appealed to a Nasdaq hearings panel before taking effect.