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Nasdaq to Suspend Trading of BG Medicine's Stock

NEW YORK (GenomeWeb) – BG Medicine today announced that its stock will be suspended from trading on the Nasdaq effective Sept. 16. 

Its shares will begin trading on that day on the OTC Markets OTCQB market under ticker symbol "BGMD." 

BG Medicine said that Nasdaq notified it on Monday of the suspension resulting from the firm's continuing non-compliance with a listing requirement calling for a minimum $2.5 million in stockholders' equity or a market capitalization of at least $35 million. The company was warned by Nasdaq of its listing deficiency in November 2014.

BG Medicine had until Sept. 10 to remedy its listing deficiency. The firm said that it understands that its stock will be delisted from the Nasdaq "after all applicable review and appeal periods have lapsed."  

In afternoon trading today, BG Medicine's shares were down 24 percent at $.49.