Bionano Genomics Regains Compliance with Nasdaq Minimum Bid Price Listing Requirement

Rhea-AI Summary

Bionano Genomics (Nasdaq: BNGO) announced its compliance with Nasdaq's minimum bid price requirement. The company received a notification confirming that its common stock closing bid price has been at $1.00 or greater for the last 10 consecutive business days, from December 29, 2020, to January 12, 2021. This achievement fulfills the Listing Rule 5550(a)(2) criteria, and the matter is now considered closed.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Common stock closed at $1.00 or greater for 10 consecutive business days.

Negative

• None.

SAN DIEGO, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO), announced today that it has received a letter from the Nasdaq Listing Qualifications staff notifying the Company that it has regained compliance with Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. The letter noted that as for the last 10 consecutive business days, from December 29, 2020 to January 12, 2021, the closing bid price of the Company's common stock has been at $1.00 per share or greater, the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.

About Bionano Genomics
Bionano is a genome analysis company providing tools and services based on its Saphyr system to scientists and clinicians conducting genetic research and patient testing, and providing diagnostic testing for those with autism spectrum disorder (ASD) and other neurodevelopmental disabilities through its Lineagen business. Bionano’s Saphyr system is a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes, which is known as cytogenetics. The Saphyr system is comprised of an instrument, chip consumables, reagents and a suite of data analysis tools, and genome analysis services to provide access to data generated by the Saphyr system for researchers who prefer not to adopt the Saphyr system in their labs. Lineagen has been providing genetic testing services to families and their healthcare providers for over nine years and has performed over 65,000 tests for those with neurodevelopmental concerns. For more information, visit www.bionanogenomics.com or www.lineagen.com.

CONTACTS
Company Contact:
Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7610
eholmlin@bionanogenomics.com

Investor Relations Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
+1 (617) 430-7577
arr@lifesciadvisors.com

Media Contact:
Darren Opland, PhD
LifeSci Communications
+1 (617) 733-7668
darren@lifescicomms.com

 

FAQ

What does Bionano Genomics' recent Nasdaq compliance mean for investors?

Bionano Genomics' recent Nasdaq compliance means it meets the required minimum bid price, which is crucial for maintaining its listing status and investor confidence.

What was the stock price of Bionano Genomics from December 29, 2020, to January 12, 2021?

From December 29, 2020, to January 12, 2021, Bionano Genomics' stock price was at least $1.00 per share.

What is Nasdaq Listing Rule 5550(a)(2)?

Nasdaq Listing Rule 5550(a)(2) requires companies to maintain a minimum bid price of $1.00 per share for continued listing on the Nasdaq Capital Market.

How does Bionano Genomics' compliance affect its market position?

Bionano Genomics' compliance with Nasdaq requirements helps stabilize its market position and enhances investor confidence.