NEW YORK (GenomeWeb) – Interpace Diagnostics announced today that it has regained compliance with the Nasdaq's minimum closing bid price requirement, addressing one of two issues facing the company's ability to trade its stock on the exchange.
About a year ago, Interpace received notification that its shares faced being delisted from the Nasdaq for failing to meet Nasdaq's $1 minimum bid price requirement. To help regain compliance, Interpace effected a 1-for-10 reverse stock split in December, and its shares are now trading around $5.30.
In November, however, Interpace was notified by Nasdaq that its stock faced delisting for the company's failure to maintain a minimum of $2.5 million in stockholders' equity. Interpace said today that it has submitted a plan to the exchange to regain compliance with this requirement.