New Haven diagnostics company Precipio Inc. said it has regained compliance with Nasdaq requirements, averting its second delisting threat since 2019.
Precipio, which offers products and services aimed at reducing cancer misdiagnosis, had been put on notice in late April that its stock price had fallen below the stock exchange’s $1 minimum between March 17 and April 28.
The company had until Dec. 28 to regain compliance or face being delisted from the exchange.
But Precipio said Nasdaq wrote the company on June 29 confirming it was back in compliance after its stock price closed at or above $1 for 10 consecutive business days in June.
“With this matter behind us, the company can continue to focus on building strong shareholder value,” Precipio CEO Ilan Danieli said in a statement. “We are excited about the many growth opportunities the company is working on, and we look forward to sharing those with our investors in the coming months.”
Precipio’s stock opened Tuesday at $1.31.
This was not Precipio’s first Nasdaq delisting notice. The company came close to being delisted last spring but brought its stock back into compliance by implementing a 1-for-15 reverse stock split.
