Close Menu

stock split

The company recently changed its name from Interpace Diagnostics as it expands its focus to include drug discovery and development services.

The disclosure comes less than a week after the company said that it was out of compliance with the Nasdaq's minimum shareholder equity requirement.

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.

Pages

Researchers have sequenced the genome of the depth-dwelling giant squid.

Prosecutors have charged a former Drexel University professor with theft for allegedly spending federal grant money on adult entertainment and other unrelated expenses, according to the Philadelphia Inquirer.

 

Chris Collins, a former US representative, has been sentenced to more than two years in prison in an insider trading case involving an Australian biotechnology firm, the New York Times reports.

In PNAS this week: Trypanosoma brucei transcripts, estimate of people at risk of inherited retinal disease, and more.