Nasdaq

The firm plans to offer more than 13 million shares of its common stock at $.225 per share. The offering will close on or about Jan. 14.

The company's diagnostics, diagnostics excluding blood, and breast health divisions are all anticipated to post healthy year-over-year improvements.

The expected net proceed are now $5.4 million, down from an earlier anticipated $9.1 million. Investors reacted negatively to the news today.

The company had been warned in March that it failed to meet a listing requirement calling for a minimum $1 per share closing price of its common stock.

The company is taking the step to continue listing its shares on the Nasdaq, which had warned OpGen that did not meet a listing requirement calling for a minimum bid price of $1 per share. 

Investors in Exact Sciences went on a selling spree after CellMax publicized data suggesting its test could outperform Cologuard for the early detection of colorectal cancer.

The company's stock faced delisting for trading below $1 for 30 consecutive business days in violation of the Nasdaq's requirements.

OpGen had previously been warned by Nasdaq that it failed to meet listing requirements. Last week, the firm was told that it was ineligible for an extension to regain compliance.

Last month, the company was notified that it no longer met the Nasdaq's stockholder equity listing requirement and faced delisting.

Earlier this year, Rosetta effected a 1-for-12 reverse stock split after failing to meet the Nasdaq's $1 minimum bid price requirement.