NEW YORK (GenomeWeb) – Interpace Diagnostics has received notification from Nasdaq that it has been granted an additional 180 days to come into compliance with listing requirements for the exchange, the firm said in a document filed today with the US Securities and Exchange Commission.
The Parsippany, New Jersey-based firm received notice from Nasdaq in January 2016 that it did not meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
The firm was given until July 5 to regain compliance, however, Nasdaq has extended the deadline for 180 days. Interpace now has until Jan. 3, 2017 to regain compliance with the minimum $1.00 per share bid requirement. The firm is otherwise in compliance for listing.
Interpace said in the document that it may regain compliance with listing requirements through a reverse stock split, if necessary.
Interpace, formerly known as PDI, is currently undergoing a restructuring to become a "pure-play" diagnostics company, and in March it cut 18 employees as part of that effort. The firm offers pancreatic cyst and thyroid cancer molecular testing.