NEW YORK (GenomeWeb News) – BG Medicine said after the close of the market Friday that it has received notice from the Listing Qualifications Department of the Nasdaq Stock Market that it is not in compliance with one of the requirements for continued listing.
Specifically, Nasdaq said that the firm's market value of its listed securities had closed below the minimum $50 million required for continued listing for the 30 days leading up to Dec. 10. BG has until June 10, 2013, to regain compliance with the rule.
If the company doesn't regain compliance by that time it would be notified of Nasdaq of a potential delisting of its shares from the market.
Shares of BG, which makes the CardioScore and Galectin-3 heart failure test, were up around 1 percent at $2.87 in Monday afternoon trade on the Nasdaq.