RedHill Biopharma (RDHL) said late Thursday it received a notice from Nasdaq for noncompliance with a listing rule.

The company failed to meet the minimum $2.5 million stockholders' equity requirement, based on its annual report filed April 10.

RedHill said it has until May 30 to submit a plan to regain compliance, the company said.

Shares of RedHill were down nearly 2% in after-hours trading.