Stereotaxis Inc., which designs, makes and markets cardiology instrument control systems used in surgeries, has regained compliance with the Nasdaq Stock Market’s minimum price listing rule.
The company had been out of compliance since January.
The bid price of its common stock closed at $1 per share or more for at least 10 consecutive business days prior to July 25, according to a regulatory document filed Wednesday with the U.S. Securities and Exchange Commission. This allowed the company to regain compliance, the St. Louis Business Journal reports.
On July 11, Stereotaxis' board approved a reverse stock split at 1-for-10, effective that day. That allowed the company to increase its stock up to a price that would be compliant.