NEW YORK (GenomeWeb) – Rosetta Genomics said today that it has received notification from the Nasdaq that it no longer meets the exchange's stockholder equity listing requirement.
According to Rosetta, it has received a letter from the Nasdaq indicating that it is not in compliance with a listing rule requiring a minimum of $2.5 million in stockholders' equity. The company said it has 45 days from Oct. 24 to submit a specific plan to regain compliance with this requirement. If the plan is accepted, the Nasdaq may provide Rosetta with up to 180 calendar days from the date of the notification to regain compliance.
Earlier this year, Rosetta effected a 1-for-12 reverse stock split after failing to meet the Nasdaq's $1 minimum bid price requirement.
During early morning trading, shares of Rosetta were up $.01 at $.80.