Image-guided therapy developer IMRIS has received a warning from Nasdaq that its stock does not meet the exchange's listing requirements.
Nasdaq notified IMRIS on August 25 that shares of the company have been trading below a minimum $1 bid price for the past 30 days; the minimum is required for continued listing under Nasdaq rules.
IMRIS has 180 calendar days, or until February 23, 2015, to regain compliance with the requirement. If the stock closes at or above $1 for a minimum of 10 consecutive business days, the company will regain compliance and Nasdaq will consider the case closed.
On the other hand, IMRIS stock could be delisted if the company is unable to regain compliance.
