NEW YORK (GenomeWeb) – WaferGen Bio-systems announced that its shares have regained compliance for listing on the Nasdaq.
On Dec. 13, the Fremont, California-based firm received a letter from the market's Listing Qualifications Department acknowledging that the closing bid price of its common stock had been $1.00 or more for ten consecutive business days as of Dec. 12.
This follows a 1-for-5 reverse stock split the company effected on Nov. 28 in a bid to boost the shares and satisfy the minimum bid price requirement for continued listing. The firm is set to merge with Takara Bio USA in a deal that will be based on consolidated fiscal year 2016 revenues, rather than share price.
In morning trading on the Nasdaq, shares of WaferGen were up almost 2 percent to $4.88.