T2 Biosystems, Inc. (NASDAQ:TTOO) (the “Company”), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced that it received written notice from the NASDAQ Stock Market LLC (NASDAQ) on October 31, 2022 informing the Company that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on the NASDAQ Capital Market.
As previously reported, T2 Biosystems was notified by NASDAQ on November 05, 2021 that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 for a period of 30 consecutive business days. To regain compliance with the Rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on October 26, 2022, the tenth consecutive trading day when the closing bid price of the Company’s common stock was greater than $1.00, and the matter is now closed.
