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.
With its stock price languishing below $1, NantHealth has 180 days to come into compliance with Nasdaq listing rules.
The company had been warned in March that it failed to meet a listing requirement calling for a minimum $1 per share closing price of its common stock.
The firm received notice from Nasdaq that it has failed to meet the requirement that its common stock maintain a minimum closing price bid of $1 per share.
Precipio received a preliminary grace period until Sept. 24, 2018 to regain compliance by meeting minimum bid stock-price requirements.
The company is taking the step to continue listing its shares on the Nasdaq, which had warned OpGen that did not meet a listing requirement calling for a minimum bid price of $1 per share.
OpGen had previously been warned by Nasdaq that it failed to meet listing requirements. Last week, the firm was told that it was ineligible for an extension to regain compliance.
The firm had been notified by the exchange in August that it failed to meet a listing requirement calling for a minimum $1 bid price on its stock.