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Transgenomic Regains Nasdaq Compliance, Escapes Delisting

NEW YORK, Sept. 19 (GenomeWeb News) - Transgenomic will continue to be listed on the Nasdaq after its share price closed at or above $1 for 10 consecutive business days, the company said today.

 

In March, Transgenomic was notified by the Nasdaq exchange that it had not maintained the mimimum closing bid price of $1 for 30 consecutive trading days and was therefore in danger of being delisted from the Nasdaq National Market. The company had until Sept. 27 to regain compliance.

 

According to CEO Collin D'Silva, recent changes of the company's business resulted in improved financial results and the increase in share price.