The company, a division of BGI Group, sold 40.1 million shares at RMB 13.64 per share for a total of RMB 547 million ($80.6 million) in the offering.
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.
The firm said that its shares will begin trading on the OTCQB exchange starting on Feb. 22.
The firm was able to maintain a minimum closing bid price of at least $1 per share for at least 10 consecutive business days.
In December, the company effected a 1-for-10 reverse stock split in order to help regain compliance with Nasdaq's minimum closing bid requirement.
The firm recently enacted a 1-for-5 reverse stock split to help its shares meet the minimum bid price requirement for listing on the market.
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 molecular testing firm, which received a notice of potential delisting in January, said it may regain compliance through a reverse stock split, if necessary.
The molecular diagnostics company has been given 60 days to demonstrate that it's in compliance with TSX listing requirements.
A former Penn State Hershey Medical Center staffer has admitted to lying about skipping mandatory steps of genetic cancer tests he performed, the Associated Press reports.
The genome of a rare, red bat suggests that its effective population size has been in decline for thousands of years, according to a PLOS One study.
In Nature this week: investigation into the genetics of medulloblastoma, and more.
A project in the UK is to use genomic selection to speed spruce tree growth, according to Innovators Magazine.