GTC Moved To Nasdaq Capital
No longer able to meet the requirements for listing on the Nasdaq Global Market, Framingham-based GTC Biotherapeutics Inc. has received approval to list on the Nasdaq Capital Market.
The company said it would begin listing on the Nasdaq Capital Market, which lists about 450 companies, today. In approving GTC for listing on the capital market, Nasdaq granted the company an additional 180 days to comply with the minimum $1 bid price for its common stock requirement of the Nasdaq Capital Market.
GTC finds itself on the Nasdaq Capital Market after allowing its common stock to dip below a $1 minimum bid price for more than 30 days on the Nasdaq Global Market. The company also faced delisting from the Nasdaq Global Market after its market value fell below $50 million for 30 consecutive days. GTC stock was trading at $0.40 per share this morning.
The company is developing disease treatments in the milk of genetically modified goats.
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