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Bionano Genomics (NASDAQ: BNGO) stock moved on Wednesday after the Nasdaq updated its listing status.
Bionano Genomics is struggling to hit the minimum price of $ 1 to keep its stock on the Nasdaq Exchange. Today the company received an update from Nasdaq that will allow it to stay in the market for another 180 days.
This update from Nasdaq means that Bionano Genomics will be released by Jan.. June 2021 has time to bring its share price back above $ 1 per share. The company initially only had until December. 16 to meet this requirement. This happens after receiving a letter on 22. April of this year that it will not stay above USD 1 per share.
All of this means Bionano Genomics needs to find a way to keep BNGO stock above the $ 1 reserve price for 10 consecutive days. If at any time during the 180 day period, the Nasdaq will close the matter.
Erik Holmlin, PhD, CEO of Bionano Genomics, said the following about the update for BNGO stocks.
“We’re delighted that Nasdaq has granted our renewal request. We have made steady progress in our business and this expansion gives us additional time to restore compliance as we continue to develop the Saphyr system in our target discovery research and cytogenomics markets. ”
Today’s news from Bionano Genomics has piqued investor interest. More than 73 million shares were already trading hands this morning. For comparison, the company’s average daily trading volume is 11. 83 million shares.
The BNGO share gained 45. 1% as of Wednesday morning, which is around $ 2 per share.
At the time of publication, William White held positions (neither directly nor indirectly) in the securities referred to in this article.
Financial market data from FinancialContent Services, Inc. . All rights reserved. Nasdaq
Quotes were delayed by at least 15 minutes, all others by at least 20 minutes.
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2020 InvestorPlace Media, LLC. All rights reserved. 1125 N.. . Charles St, Baltimore, MD 21201.
Bionano Genomics, NASDAQ, NASDAQ: BNGO, Stock
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Ref: https://investorplace.com
