NEW YORK – Genetron Health said Wednesday that it was notified by the Nasdaq on May 17 that the closing bid price for its American depositary shares had fallen below the required minimum bid price of $1.00 per share for 30 consecutive business days.
Pursuant to Nasdaq rules, the Chinese cancer molecular profiling company now has 180 calendar days, or until Nov. 13, to regain compliance under the Nasdaq listing rules, meaning its ADS bid price has to be at least $1.00 for a minimum of 10 consecutive business days.
Genetron said that its business operations are not affected by the Nasdaq notification letter and that it plans to monitor its ADS bid price closely and "take all reasonable measures" in order to regain compliance.
Earlier this year, the Beijing-based firm had already regained compliance with Nasdaq's minimum bid price requirement after getting a noncompliance notice last November.
In Wednesday morning trading on the Nasdaq, Genetron's shares were down 2 percent at $.88.