Qiagen plans to return about $250 million to shareholders through a program that combines a direct capital repayment with a reverse stock split.
The company implemented the reverse stock split in order to regain compliance with the Nasdaq's minimum bid price listing maintenance requirements.
The company said that its board will decide the ratio and timing of the split, which will cure a previously announced authorized share failure.
The company made the move with an eye toward listing its shares on a national securities exchange such as the Nasdaq or New York Stock Exchange.
The reverse stock split was done in order for BG Medicine to remain listed on Nasdaq, which had warned the firm in September of possible delisting action.
As a result of the action, the number of Nanosphere's outstanding common shares will be reduced to about 5.9 million from 117.2 million, the firm said.
The firm's shareholders will vote next month on the proposals, which are aimed at getting Nanosphere back in compliance with Nasdaq listing requirements.
NEW YORK (GenomeWeb) – WaferGen Biosystems said after the close of the market on Monday that it has effected a one-for-10 reverse stock split as it seeks to list its shares on the Nasdaq Capital Market.
NEW YORK (GenomeWeb News) — Transgenomic said today that it has filed an application to list its common shares on the Nasdaq Capital Market, and that it will initiate a 1-for-12 reverse stock split.
The American Prospect writes that the pilot program to test the DNA of migrants could lead to more family separations.
An international commission is to develop a report on how researchers, clinicians, and regulators should evaluate the clinical applications of human germline genome editing.
The US Department of Agriculture presents a new blueprint for animal genomic research.
In Genome Research this week: repetitive element deletion linked to altered methylation and more in form of muscular dystrophy; human contamination in draft bacterial and archaeal genomes; and more.