NEW YORK (360Dx) – Itus today said that it has been notified by the Nasdaq that it has regained compliance with a listing requirement calling for a minimum bid price on the firm's stock of $1, and will continue listing on the exchange.
Itus had been told in August that it was in danger of facing delisting action by Nasdaq because of its failure to meet the $1 minimum bid price. In order to regain compliance, the firm's stock had to meet or exceed $1 per share for at least 10 consecutive business days by Feb. 14, 2018.
Through its wholly owned subsidiary, Anixa Diagnostics, Itus is developing the Cchek platform for the noninvasive, early detection of solid tumor-based cancers in blood samples. On Monday, Itus said that it raised $3.4 million in a stock offering.