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OpGen Retains Nasdaq Listing, Gets June Deadline for Stock Price Rule Compliance

NEW YORK – OpGen said Tuesday that its request for continued listing on the Nasdaq was granted by the Nasdaq Hearings Panel.

According to a document the molecular diagnostics firm filed with the US Securities and Exchange Commission, the panel gave it until June 3 to regain compliance with the exchange's minimum bid price requirement.

OpGen, based in Rockville, Maryland, received notice in June 2023 that its common stock had fallen below the minimum bid price of $1.00 per share for 30 consecutive business days, and the firm was initially given until Dec. 4 to regain compliance. Company officials said in December that the Nasdaq had granted a request for a hearing on delisting and that the firm intended to submit a plan to regain compliance and ask for additional time.

OpGen said the Nasdaq granted its request to remain listed on the exchange on Feb. 9, but the company could give no assurance that it will be able to regain or maintain compliance with the listing requirements or that the hearings panel will provide more time to achieve compliance.

The firm's Curetis and Ares Genetics subsidiaries filed for bankruptcy in November following unsuccessful attempts by OpGen to sell those businesses or their assets to raise capital that would fund ongoing operations.

OpGen's shares were up less than 1 percent to $.39 per share in morning trading on the Nasdaq.