The company is taking the step to continue listing its shares on the Nasdaq, which had warned OpGen that did not meet a listing requirement calling for a minimum bid price of $1 per share.
OpGen had previously been warned by Nasdaq that it failed to meet listing requirements. Last week, the firm was told that it was ineligible for an extension to regain compliance.
The firm's market value fell below the minimum $35 million level to remain listed on the Nasdaq. HTG has until Jan 29, 2018 to regain compliance.
Nasdaq told the firm on Tuesday that its shares failed to maintain a minimum bid price of $1 per share for at least 30 consecutive trading days.
The firm had been notified in November that it failed to meet a listing requirement calling for at least $2.5 million in stockholder equity and faced delisting action.
Interpace hopes to keep its stock listed on the Nasdaq as a result of the reverse split.
As of Nov. 21 the company evidenced a closing bid price of its common stock in excess of the $1 minimum requirement for at least 10 consecutive trading days.
The company has received a number of warnings from the Nasdaq over the past year for its failure to meet the exchange's $35 million market value and $1 minimum bid price requirements.
The suspension results from the firm's failure to comply with Nasdaq listing requirements covering stockholders' equity and market capitalization.
The reverse stock split was done in order for BG Medicine to remain listed on Nasdaq, which had warned the firm in September of possible delisting action.
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