Diagnostic test maker Response Genetics was delisted from the Nasdaq Capital Market Monday and began trading on the Over-the-Counter market.
Nasdaq had warned the East L.A. firm a year ago that it wasn’t meeting minimum bid price requirements of $1 a share. Response Genetics’ stock had been trading under that level for 30 consecutive days last summer.
The exchange then warned the firm in December that its shares would be delisted without an extension because Response Genetics’ stockholders’ equity had also fallen below the minimum requirement of $2.5 million.
After requesting an appeal in February, Response Genetics was allowed to continue listing its shares on the Nasdaq subject to meeting certain conditions and terms by June 19. Its stock closed at 27 cents a share at end of trading on Thursday.