Dyadic International Gets Nasdaq Warning Over Listing Rules, Faces Delisting Risk

On March 27, 2026, Dyadic International, Inc. (the "Company" or "Dyadic") received a deficiency notice (the "Notice") from the Nasdaq Listing Qualifications staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is out of compliance with the technical minimum requirements for continued listing under Nasdaq Listing Rule 5550(b) (the "Continued Listing Requirement"). The Continued Listing Requirement requires the Company to maintain at least one of the following: $2.5 million in stockholders' equity; $35 million in market value of listed securities; or $500,000 of net income from continuing operations. The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. In accordance with Nasdaq rules, the Company has 45 calendar days, or until May 11, 2026, to submit a plan to regain compliance with any of the three minimum requirements under the Continued Listing Requirement. If the plan is accepted, the Company may be eligible for a cure period of up to 180 days from March 27, 2026 (September 23, 2026) to regain compliance. If the plan is not accepted, the Company may appeal the determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq listing rules. There can be no assurance that, if the Company decides to appeal the determination by Nasdaq to the panel, such appeal would be successful. The Company intends to actively monitor its compliance with the Continued Listing Requirement an ongoing basis and, as appropriate, plans to evaluate available options to resolve the deficiency and regain compliance (likely through the $2.5 million in stockholders' equity requirement). As previously disclosed, the Company also remains out of compliance with the minimum bid price of $1.00 required by the continued listing requirements of Nasdaq Listing Rule 5550(a)(2), and has until June 17, 2026 to regain compliance with such requirement. The Continued Listing Requirement deficiency discussed in the Notice is a separate and unrelated deficiency, and either deficiency, if not cured by the applicable deadline, could be a basis for the delisting of the Company's common stock.