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Genaissance Faces Nasdaq Delisting for Sub-Dollar Share Price

This article has been updated from a previous version to reflect today's morning trading.

 

NEW YORK, June 22 (GenomeWeb News) - Genaissance has received a letter from Nasdaq warning that it faces delisting for failure to meet minimum trading requirements, the company said in an SEC filing yesterday.

 

Genaissance, which announced on Tuesday that it has entered into an agreement to be acquired by diagnostic firm Clinical Data, said that it received notification from Nasdaq yesterday that its share price for the last 30 consecutive trading days had closed below the minimum $1.00 per share required for continued listing.

 

Genaissance said it has 180 calendar days, or until Dec. 19, to regain compliance. To do this, its stock must close at or above $1.00 per share for a minimum of ten consecutive trading days.

 

The company's stock closed at $1.06 on June 20, and $1.16 on June 21. As of this morning's trading, the company's share price was $1.18.

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