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Nasdaq Warns BG Medicine Again on Listing Requirement

NEW YORK (GenomeWeb News) – BG Medicine has been warned by Nasdaq that it fails to meet another requirement to remain listing on the Nasdaq Global Market, the company said in a document filed with the US Securities and Exchange Commission on Wednesday.

In a Nov. 22 letter from Nasdaq, BG Medicine was told that its publicly held shares closed below the minimum $15 million threshold for the preceding 30 consecutive business days, putting the company at risk of being delisted. BG Medicine has until May 21, 2014 to regain compliance.

The firm also is in danger of being listed from Nasdaq for failing to meet two other requirements. Earlier this month the exchange notified the company that it has not regained compliance with a listing requirement of at least $50 million in market value of its listed securities. BG Medicine has requested a hearing with a Nasdaq panel on the matter.

Additionally, BG Medicine is not in compliance with a listing requirement calling for a minimum $1 closing bid price on its stock. It has until March 24, 2014 to regain compliance with that rule.