The company said in a filing with the US Securities and Exchange Commission that it is not in compliance with the exchange's minimum shareholders' equity requirement.
The company faces potential delisting from the exchange for failure to meet its minimum bid price requirement.
The company has received a number of warnings from the Nasdaq over the past year for its failure to meet the exchange's $35 million market value and $1 minimum bid price requirements.
The molecular testing firm, which received a notice of potential delisting in January, said it may regain compliance through a reverse stock split, if necessary.
The stock exchange has told the company that it is has failed to comply with the minimum stockholders' equity requirement for continued listing.
The company said it plans to schedule a hearing in front of the Nasdaq Listing Qualifications Panel to ask for a 30 day extension to regain compliance.
Nasdaq said the firm is not in compliance with the $1.00 minimum bid price required for continued listing for the 30 consecutive business days leading up to Feb. 23.
The firm regained compliance with the listing rule requiring a minimum $1 share price after announcing a 1-for-15 reverse split of its stock this month.
The exchange warned the company that its stock could be delisted if it doesn't meet the $1.00 minimum required closing bid price.
After an autumn dip, biotech stocks are on the rise, though investors tell the Wall Street Journal that the sector may remain volatile in the New Year.
Biomedical research projects are generating a ton of data that still needs to be analyzed, NPR reports.
Theranos is retiring some of its board members, including Henry Kissinger and George Shultz, Business Insider reports.
The heads of 29 scientific societies and some 2,300 researchers call on President-elect Donald Trump to rely on and support science in two separate letters.
In Science this week: genetically modified flu virus could be key to new live vaccines, and more.