NEW YORK – OpGen said after the close of the market on Friday that it received a notice from Nasdaq that as of June 30 the company does not comply with a listing requirement calling for a minimum shareholder equity of $2.5 million.
As a result, the Gaithersburg, Maryland-based developer of antibiotic-resistance testing technology could face delisting action by Nasdaq. OpGen has 45 calendar days to submit a plan to regain compliance. If Nasdaq accepts the plan, it can grant the company an extension of up to 180 calendar days to become compliant with the listing requirement.
In a document filed with the US Securities and Exchange Commission, OpGen said it will evaluate its options to regain compliance and to submit a plan to Nasdaq. It recently told GenomeWeb that it plans to pursue successive clearance from the US Food and Drug Administration for its Acuitas AMR Gene Panel for two different sample types, pure bacterial isolates and unprocessed urine.
At the close of the market on Friday, OpGen's shares were up a fraction of 1 percent at a little under $.29 per share.