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 Wall Street Journal looks into FamilyTreeDNA's handling of genetic genealogy searches by law enforcement.
In a point-counterpoint in the Boston Globe, researchers discuss the potential of gene editing to prevent Lyme disease, but also the pitfalls of doing so.
MIT's Technology Review reports that researchers hope to develop a CRISPR-based pain therapy.
In Science this week: atlas of malaria parasites' gene expression across their life cycles, and more.