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DermTech Receives Delisting Warning From Nasdaq

NEW YORK – Skin cancer diagnostics firm DermTech said Monday that it has received written notification from the Nasdaq that its common stock bid price had closed below the required minimum of $1.00 per share for the last 30 consecutive business days.

In accordance with Nasdaq rules, the company now has 180 calendar days, or until Oct. 14, to regain compliance with the minimum bid price requirement. To do so, DermTech's stock needs to reach a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during that period.

DermTech recently announced a restructuring that included laying off about 15 percent of its employees in an effort to focus its resources on growing billable test volume and revenue.

The company's test involves the use of an adhesive patch to collect skin cell samples for subsequent PCR analysis of long noncoding RNA biomarkers.