T2 Biosystems Receives Extension To Comply With Nasdaq Listing Requirements Through November 20, 2023
Portfolio Pulse from Happy Mohamed
T2 Biosystems, Inc. (NASDAQ:TTOO) has been granted an extension by the Nasdaq Hearings Panel to comply with Nasdaq's minimum bid price and market value of listed securities requirements until November 20, 2023. The company must evidence a closing bid price of at least $1.00 per share and a market value of at least $35 million for a minimum of ten consecutive business days by the given date. The company may consider a reverse stock split to remedy the deficiency.
July 31, 2023 | 12:32 pm
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T2 Biosystems has been granted an extension to meet Nasdaq's listing requirements. Failure to meet these requirements by November 2023 could lead to delisting, which may negatively impact the stock price.
The news directly pertains to T2 Biosystems and its ability to maintain its Nasdaq listing. If the company fails to meet the requirements by the given deadline, it could face delisting, which would likely lead to a decrease in the stock price. The company's consideration of a reverse stock split also indicates potential financial instability, which could negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100