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.
Qiagen plans to return about $250 million to shareholders through a program that combines a direct capital repayment with a reverse stock split.
Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.
A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.
An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.
In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.