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Precipio Gets Extension to Meet Nasdaq Listing Requirement

NEW YORK (360Dx) – Precipio said on Thursday that Nasdaq has granted it a 180-day extension to meet a requirement to remain listed on the exchange.  

Nasdaq had warned the New Haven, Connecticut-based cancer diagnostics firm in March that it was not in compliance with a listing requirement calling for a minimum $1 per share closing price of its common stock for at least 10 consecutive business days. Precipio had until Sept. 24 to regain compliance. If it did not meet the listing requirements by then, it had a 180-day additional grace period to regain compliance if certain other listing requirements were met. 

"These additional six months provide more time for our operational, commercial, and strategic initiatives to materialize, and for management to build the value of the company," Precipio CEO Ilan Danieli said in a statement.

In late morning trading, Precipio's shares were down a fraction of 1 percent at $.39.

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