Vermillion (Fremont, California) said that it received written notification from the NASDAQ Stock Market that the company has regained compliance with NASDAQ marketplace rules. As a result of achieving a market value of listed securities of the company’s common stock of $35 million or more for a period of 10 consecutive business days. NASDAQ notified the company on Aug. 17 that it was not in compliance with the minimum requirements that a company listed on NASDAQ have a minimum of $2.5 million stockholders’ equity, $35 million market value of listed securities or $500,000 of net income from continuing operations. According to the NASDAQ, this matter is now closed.
Vermillion makes diagnostic specializing in oncology/hematology, cardiology and women’s health with an initial focus in ovarian cancer.