NEW YORK (GenomeWeb) – Interpace Diagnostics' stock faces delisting from the Nasdaq due to the company's failure to maintain a minimum of $2.5 million in stockholders' equity, according to a document filed yesterday with the US Securities and Exchange Commission.
According to Interpace, it received a written notice from Nasdaq on Nov. 23 indicating its failure to meet the listing requirement. For the three-month period ended Sept. 30, the molecular diagnostics developer reported a total shareholders' deficit of approximately $1.5 million.
Interpace said it was also notified that it did not meet Nasdaq's alternative requirements based on the market value of listed securities or net income from continuing operations. The company has 45 calendar days to provide the exchange with a plan to regain compliance, and may be granted a 180-day extension from the date of the notice to regain compliance.
Interpace said that it is considering available options regarding its Nasdaq compliance.