Skip to main content
Premium Trial:

Request an Annual Quote

Nanosphere Receives Deficiency Letter from Nasdaq

NEW YORK (GenomeWeb) — Nanosphere on Friday disclosed in a US Securities and Exchange Commission filing that it has been issued a letter from Nasdaq notifying the company that it is not in compliance with one of the requirements for continued listing.

Specifically, Nasdaq said that, for the last 30 days, the closing bid price of Nanosphere's common stock has not met the minimum required closing bid price of at least $1.00 per share. Nanosphere has been given 180 days leading up to March 18 to regain compliance with the minimum bid price by maintaining a closing bid price of at least $1.00 for 10 consecutive business days.

Nanosphere said it is currently evaluating various alternative courses of action to regain compliance.

Earlier this month the Northbrook, Ill.-based molecular diagnostics firm disclosed that it is exploring potential strategic alternatives and has hired Jeffries as an advisor. Last month the company reported that second quarter revenues were up 42 percent year over year, but also lowered its full-year 2014 revenue guidance to $14 million from a previous range of $19 million to $21 million.

In early Monday trading on Nasdaq, shares of Nanosphere were down 4 percent to $0.61.

The Scan

Billions for Antivirals

The US is putting $3.2 billion toward a program to develop antivirals to treat COVID-19 in its early stages, the Wall Street Journal reports.

NFT of the Web

Tim Berners-Lee, who developed the World Wide Web, is auctioning its original source code as a non-fungible token, Reuters reports.

23andMe on the Nasdaq

23andMe's shares rose more than 20 percent following its merger with a special purpose acquisition company, as GenomeWeb has reported.

Science Papers Present GWAS of Brain Structure, System for Controlled Gene Transfer

In Science this week: genome-wide association study ties variants to white matter stricture in the brain, and more.