The Pleasanton, California-based firm reported $71.9 million in revenues but missed the consensus Wall Street estimates for quarterly revenues as well as loss per share.
The Massachusetts sequencing firm has been selling technology originally developed by Helicos BioSciences and planned to increase marketing with the IPO proceeds.
The Lexington, Massachusetts-based company also terminated a purchase agreement and raised the amount in it may raise in a public offering of its common stock to $95.
The German company offers rare disease genetic tests and services for clinical applications, as well as to support drug discovery and development programs.
Nasdaq told the company that as of June 30 its shareholder equity does not meet the minimum $2.5 million required for its shares to remain listed on the exchange.
Nasdaq told the company that its shares have failed to meet a minimum $1 per share closing price for 30 consecutive days and may face delisting action.
Direct-to-consumer genetic testing companies are searching for a genetic reason for why some people, but not others, become gravely ill with COVID-19, the Detroit Free Press reports.
In PNAS this week: forward genetics-base analysis of retinal development, interactions of T cell receptors with neoantigens in colorectal cancer, and more.
