NEW YORK – Trinity Biotech said on Friday that it has been notified by Nasdaq that it has regained compliance with a listing requirement and its stock can continue trading on the exchange.
In late April, the Dublin-based point-of-care diagnostics firm said Nasdaq had warned it that its stock price had dropped below a minimum $1.00 closing bid price for 30 consecutive days in violation of the exchange's listing rules. Trinity said on Friday that it has regained compliance after Nasdaq determined the company's closing bid price met the $1.00 minimum for the prior 10 business days.
Trinity recently announced it had sold its life sciences supply business, Fitzgerald Industries, to Biosynth for $30 million to reduce its debt load.