Bionano Genomics Faces Nasdaq Delisting Warning

TL;DR

BNGO got a Nasdaq delisting warning for low stock price, has until Jan 8 to fix it.

AI Summary

Bionano Genomics, Inc. received a notification on July 12, 2024, from the Nasdaq Stock Market indicating that the company is not in compliance with the minimum bid price requirement for continued listing. The company has 180 calendar days, until January 8, 2025, to regain compliance by achieving a closing bid price of $1.00 or more for a minimum of 10 consecutive business days.

Why It Matters

This delisting warning could negatively impact investor confidence and the company's ability to raise capital, potentially affecting its ongoing research and development efforts.

Risk Assessment

Risk Level: medium — The company is at risk of being delisted from Nasdaq if it cannot meet the minimum bid price requirement within the specified timeframe.

Key Numbers

• 180 — calendar days (The period Bionano Genomics has to regain compliance with Nasdaq's minimum bid price rule.)
• $1.00 — minimum bid price (The target stock price required to avoid delisting from Nasdaq.)

Key Players & Entities

• Bionano Genomics, Inc. (company) — The company filing the report and subject to the delisting warning.
• Nasdaq Stock Market (company) — The exchange that issued the non-compliance notification.
• July 12, 2024 (date) — The date the notification of non-compliance was received.
• January 8, 2025 (date) — The deadline for Bionano Genomics to regain compliance with Nasdaq listing rules.
• $1.00 (dollar_amount) — The minimum closing bid price required for continued listing on Nasdaq.

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share BNGO The Nasdaq Sto
• $1.00 — any's common stock had closed below the $1.00 per share minimum required for continue

Filing Documents

• bngo-20240712.htm (8-K) — 24KB
• 0001411690-24-000044.txt ( ) — 144KB
• bngo-20240712.xsd (EX-101.SCH) — 2KB
• bngo-20240712_lab.xml (EX-101.LAB) — 21KB
• bngo-20240712_pre.xml (EX-101.PRE) — 12KB
• bngo-20240712_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 12, 2024, Bionano Genomics, Inc. (the "Company") received a letter (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") advising the Company that for 30 consecutive trading days preceding the date of the Notice, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Notice has no effect on the listing of the Company's common stock at this time, and the Company's common stock continues to trade on The Nasdaq Capital Market under the symbol "BNGO." Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days following the date of the Notice to regain compliance with the Minimum Bid Price Requirement. If at any time during this 180 day period the closing bid price of the Company's common stock is at least $1.00 for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Requirement within the initial 180 day compliance period, the Company may be eligible for an additional 180 calendar days to regain compliance if, on the last day of the initial compliance period, the Company meets the market value of publicly held shares requirement for continued listing as well as all other standards for initial listing of its common stock on The Nasdaq Capital Market (other than the Minimum Bid Price Requirement), and the Company notifies Nasdaq of its intention to cure the deficiency during the second compliance period. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days to regain compliance. If the Company does not indicate its

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Bionano Genomics, Inc. Date: July 18, 2024 By: /s/ R. Erik Holmlin, Ph.D. R. Erik Holmlin, Ph.D. President and Chief Executive Officer (Principal Executive Officer)

View Full Filing

View this 8-K filing on SEC EDGAR