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stock delisting

Nasdaq told the company that it fails to meet requirements calling for a minimum $35 million market value of listed securities and a $1 minimum bid price on its shares.

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.

The company's stock failed to meet the exchange's $1 minimum bid requirement.

Alere missed the deadline to file its Form 10-Q as a result of having to restate its 2014 and interim financial results, prompting the warning from the NYSE.

The Australian firm regained compliance with a listing rule requiring a minimum $2.5 million in stockholder equity.

The company borrowed $2 million pursuant to an amendment to a $12 million credit agreement. It also said that it has until June 19 to meet certain listing requirements. 

The firm's shareholders will vote next month on the proposals, which are aimed at getting Nanosphere back in compliance with Nasdaq listing requirements.

The firm was not in compliance with minimum bid price and minimum stockholders' equity requirements to remain listed. 

The company has been told by Nasdaq that it falls short of a listing requirement for at least $2.5 million in stockholders' equity.

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