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stock split

The cancer diagnostics developer said it was undertaking the reverse stock split in order to meet the Nasdaq's $1 minimum bid price requirement.

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 one-for-30 reverse split is intended to increase the price of the company's stock, enabling it to satisfy the Nasdaq's initial listing requirements.

The move is designed to help Rosetta regain compliance with the Nasdaq's $1 minimum bid requirement for continued listing.

Interpace hopes to keep its stock listed on the Nasdaq as a result of the reverse split. 

The approval from the firm's shareholders and board comes after Great Basin moved its stock to the Over-the-Counter market in October. 

The firm said the one-for-five reverse split will help address a looming delisting from the Nasdaq Capital Market by boosting the bid price per share above $1.00.

The company is aiming to use the reverse split to regain compliance with the Nasdaq's $1 minimum bid price requirement.

The 1-for-80 split of the company's common stock, which will go into effect on Sept. 16, will reduce its outstanding shares to approximately 1 million.

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