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GeneDx Regains Compliance with Nasdaq Minimum Bid Price Requirement

NEW YORK – GeneDx said Monday that it has regained compliance with Nasdaq Stock Market rules that its minimum bid price remain at or above $1.00 per share. The firm had been out of compliance since November and had faced delisting in June.

Stamford, Connecticut-based GeneDx executed a 1-for-33 reverse stock split May 4 to boost its stock price. The move reduced the number of outstanding GeneDx shares to about 25.6 million from 844.4 million.

The genetic testing company, formerly known as Sema4, received a notice of noncompliance from the Nasdaq on Dec. 28 because its stock price had been below $1.00 per share for 30 consecutive trading days. To regain compliance, shares had to meet or exceed that threshold for 10 consecutive trading days, a count that was triggered by the reverse split. Shares closed Monday at $7.34.

GeneDx posted a net loss of $549.0 million in 2022.