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NantHealth Receives Nasdaq Delisting Notice

NEW YORK (GenomeWeb) – NantHealth disclosed Friday after the close of the market that it has received a delisting notice from the Nasdaq Stock Market because its stock price has been below $1 for at least 30 consecutive business days.

The company disclosed this news in a filing with the Securities and Exchange Commission just ahead of the long holiday weekend in the US, though NantHealth said it received the delisting notice two days earlier.

Per Nasdaq rules, Culver City, California-based NantHealth has until July 15 to get its closing stock price to at least $1 for 10 consecutive business days to avoid delisting.

NantHealth shares closed the week at $.70. The company, the IT and precision medicine arm of Patrick Soon-Shiong's NantWorks empire, went public in 2015 at $14 per share.

For the quarter ended Sept. 30, NantHealth reported a net loss of $97.5 million, despite higher year-over-year revenues. The firm has never been profitable.