Precipio received a preliminary grace period until Sept. 24, 2018 to regain compliance by meeting minimum bid stock-price requirements.
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 company said it has been notified that its shares fail to meet the Nasdaq's $1 minimum bid price requirement.
The firm does not meet a listing requirement calling for at least $2.5 million in stockholders equity and has 45 days to submit a plan to regain compliance.
The company had been warned by Nasdaq in August that it failed to comply with a minimum $10 million stockholder equity requirement to remain listed on the exchange.
The company said in a filing with the US Securities and Exchange Commission that it is not in compliance with the exchange's minimum shareholders' equity requirement.
The firm now has until Feb. 27, 2017 to achieve and maintain a $1 minimum list price on its shares for 10 consecutive days.
The company was told in October that it was not in compliance with continued listing rules, and it also received a notice of potential delisting in April.
The stock exchange has told the company that it is has failed to comply with the minimum stockholders' equity requirement for continued listing.
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