NEW YORK (GenomeWeb) – HTG Molecular Diagnostics is out of compliance with a Nasdaq listing requirement, the firm said in a document filed with the US Securities and Exchange Commission on Friday.
The company said that it was notified by Nasdaq on July 31 that the market value of its listed securities did not meet the exchange's minimum standard of at least $35 million for the past 30 consecutive trading days. HTG has until Jan. 29, 2018 to regain compliance by meeting the $35 million requirement for at least 10 consecutive business days.
If the firm cannot regain compliance between then, it will receive a delisting determination from Nasdaq. HTG would be able to appeal the determination to a Nasdaq Hearings Panel, the company said.
Shares of HTG closed at $2.24 on Friday. Its market value was $21.3 million based on 9.53 million shares outstanding.