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stock delisting

In April the firm received notice that it wasn't in compliance because its common stock didn't maintain a minimum bid price of $1.00 for 30 consecutive business days.

The Lexington, Massachusetts-based company also terminated a purchase agreement and raised the amount in it may raise in a public offering of its common stock to $95.

The company will not be allowed to submit another plan for meeting the Nasdaq's listing requirements.

Companies in the AMR space have met resistance from investors and clinicians as a result of conflicting hospital priorities and perceived technology shortcomings.

Of the 29 companies in the index, 16 firms' share prices retreated while the other 13 saw their stock prices rise month over month.

The firm has a 180-day grace period in which to regain compliance, by maintaining a $1.00 minimum closing bid price for at least 10 consecutive business days.

Nasdaq told the company that as of June 30 its shareholder equity does not meet the minimum $2.5 million required for its shares to remain listed on the exchange.

The firm received a notice from Nasdaq on August 2 saying its stock had not met the $1-per-share closing bid price requirement for 30 consecutive business days.

Nasdaq told the company that its shares have failed to meet a minimum $1 per share closing price for 30 consecutive days and may face delisting action.

The cancer diagnostics developer said it was undertaking the reverse stock split in order to meet the Nasdaq's $1 minimum bid price requirement.

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