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The synthetic biology firm had total revenues of $19.3 million and withdrew its financial guidance for fiscal year 2020 citing uncertainty caused by COVID-19.

In a marked contrast to its negative performance in February and March, the GenomeWeb Index rose more than 18 percent in April.

The San Diego-based genome mapping firm's share price fell below $1.00 for 30 consecutive days, triggering a noncompliance notification from Nasdaq.

The genome mapping firm had fallen out of compliance with respect to its loan agreement with Innovatus and will prepay $5 million toward the loan principal.

Of the 32 firms included in the GW Index, 27 saw their stock prices drop while only five saw gains. Yet, the GW Index outperformed the Dow and Nasdaq.

The company's Q4 revenues exceeded Wall Street estimates and the clinical genetic testing and pharma services businesses outperformed expectations. 

The GenomeWeb Index fell 2 percent, outperforming the Nasdaq Biotechnology Index but doing worse than the Dow Jones and the Nasdaq.

The company's Lyo-Ready 1-Step RT-qPCR mix is being used by diagnostic labs in China to develop screening assays for the virus.

The index's gain was well above the 13 percent increase of 2018, and almost reached the 39 percent increase it saw in 2017.

The GenomeWeb Index vastly outperformed the Dow Jones and the Nasdaq Biotechnology Index this month, while slightly underperforming the Nasdaq.