Guilford-based biotechnology firm Hyperfine Inc. said Wednesday it has regained compliance for its stock to continue to be listed on the Nasdaq Stock Market
Guilford-based biotechnology firm Hyperfine Inc. said Wednesday it has regained compliance for its stock to continue to be listed on the Nasdaq Stock Market
In a document filed with the Securities and Exchange Commission, the medical technology company said it had received a letter from Nasdaq indicating that its stock has regained compliance with the bid price requirement.
Hyperfine had been notified on April 30 that its Class A common stock, which trades on the Nasdaq Global Market under the symbol HYPR, had fallen below $1 per share for 30 consecutive business days, the minimum bid price required for continued listing on the exchange.
The stock has since recovered, closing Wednesday at $1.17 per share. In its filing with the SEC, Hyperfine said Nasdaq now considers the matter closed.
In May, Hyperfine posted its financial results for the first quarter of 2025, reporting a net loss of $9.4 million, or 12 cents per share, compared to a net loss of $9.8 million, or 14 cents per share a year earlier.
Revenues for the quarter were $2.1 million, compared to $3.3 million a year earlier.
The company, however, said it strengthened its financial profile “by completing a reorganization to lower our operating costs and raising $6 million of gross proceeds through a registered direct offering to extend our cash runway, which is still expected to enable us to conduct our planned operations until the end of 2026.”
The reorganization included announcing in January that it
was cutting about 14% of its global workforce.
The company’s principal executive offices are located at 351 New Whitfield St., in Guilford. It also occupies office and laboratory space in Palo Alto, California.
