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Response Genetics Regains Nasdaq Compliance After Private Placement

NEW YORK (GenomeWeb News) – Response Genetics said on Monday that it has regained compliance with a Nasdaq requirement calling for a minimum $35 million market value of listed securities.

The Los Angeles-based diagnostics firm said that Nasdaq notified it that it regained compliance on Oct. 5 and the delisting matter is now closed.

Nasdaq had notified Response Genetics in July of its non-compliance. Last month, the company raised $8.8 million in a private placement with a "significant" stockholder. Response Genetics later disclosed in a document filed with the US Securities and Exchange Commission that the investors in the placement are the Glaxo Group and Swiftcurrent Partners.