Nasdaq to Delist TearLab Tomorrow After failing to Meet Listing Requirements
Citing its failure to meeting listing requirements for minimum market cap and stockholders' equity, Nasdaq has notified TearLab that it will delist its shares at the open tomorrow, November 9. Shares will trade on the OTCQX Market thereafter under the same symbol.
On November 7, 2017, Tearlab received a letter from The NASDAQ Stock Market notifying the company that the Nasdaq Hearings Panel had determined to delist the company’s securities from The Nasdaq Capital Market due to the company’s failure to regain compliance with Nasdaq Listing Rule 5550(b), which requires an issuer to maintain a minimum market value of listed securities of $35 million or, in the alternative, $2.5 million in stockholders’ equity.
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