Skip to main content
Premium Trial:

Request an Annual Quote

CombiMatrix Regains Compliance With Nasdaq Listing Requirement

NEW YORK (GenomeWeb) – CombiMatrix today announced it has regained compliance to continue listing its shares on the Nasdaq after raising the closing bid price of its common stock to at least $1 per share for 10 days, which it did from Feb. 1 to Feb. 12.

CombiMatrix was warned last December that it could face delisting from the Nasdaq for failing to meet the stock exchange's $1 minimum bid price. It was given 180 calendar days in which to regain compliance.

In January, the company's board approved a 1-for-15 reverse split of its common stock intended to help it regain compliance and also to increase the number of shares of common stock available for the company to issue. The reverse split became effective on Jan. 29 for trading purposes on Feb. 1.

CombiMatrix cautioned that its recovery of compliance is not a guarantee that the company will be will be able to adhere to the minimum bid price requirement in the future.