Skip to main content
Premium Trial:

Request an Annual Quote

Nanosphere Proposes Share Number Increase, Reverse Stock Split

NEW YORK(GenomeWeb) – Nanosphere said after the close of the market on Tuesday that it will hold a special shareholders' meeting next month to vote on proposals by the firm to increase the number of its shares and to carry out a reverse stock split in order to regain compliance with Nasdaq listing requirements. 

During the April 7 meeting, shareholders will vote on whether to approve Nanosphere's request to increase its share number to 250 million from 150 million. Shareholders will also vote on whether to effect a reverse stock split of its issued and outstanding common shares with a ratio in the range of between 15-to-one and 25-to-one, with the exact ratio to be determined by Nanosphere's board. 

The company is making the proposals in order to regain compliance with a Nasdaq listing requirement calling for a minimum $1 bid price. The Nasdaq warned the company about its non-compliance in September. 

Shares of Nanosphere were down more than 19 percent in Wednesday morning trading at $.20.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.