VirtualScopics Inc.’s strategy to implement a reverse stock split has helped its shares remain listed on the Nasdaq stock exchange.
The medical image analysis company Friday said it has received notification from Nasdaq that its stock meets the minimum bid price requirement and other standards for continued listing on the exchange.
To regain compliance with the bid price rule, VirtualScopics needed a closing bid price of $1 a share or more for at least 10 consecutive trading days.
Last month, VirtualScopics’ shares underwent a 1-for-10 reverse split. The company’s shares (NasdaqCM: VSCP) were trading at $4.84 before noon Friday.
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