NEW YORK (GenomeWeb) – Biocept's stock faces a potential delisting from the Nasdaq due to a failure to comply with the minimum bid price requirement, the company said in a filing made yesterday with the US Securities and Exchange Commission.
Biocept received a notice from Nasdaq stating that it had failed to maintain a required minimum closing bid price of at least $1 per share.
In order to regain compliance, Biocept must now maintain a minimum closing bid price for its common stock of at least $1 per share for at least 10 consecutive business days during a 180-day grace period. Biocept said it considering options available to it to achieve this goal.
In Monday morning trade, shares of Biocept were unchanged from Friday's close of $.81.