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NEW YORK – Cancer Genetics on Thursday announced a 1-for-30 reverse stock split of its outstanding common stock, effective at the start of trading on Friday.

In Thursday morning trading on the Nasdaq, the company's shares were down more than 10 percent at $.12.

The Rutherford, New Jersey-based provider of preclinical test systems said that the reverse stock split is intended to increase its stock price to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq.

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