FREMONT, Calif., Dec. 15, 2016 /PRNewswire/ -- WaferGen Bio-systems, Inc. (NASDAQ: WGBS), a publicly held genomics technology company, announced today that on December 13, 2016, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC which acknowledged that, as of December 12, 2016, the closing bid price of WaferGen's common stock had been at $1.00 or greater for ten consecutive business days. Accordingly, WaferGen has regained compliance with Listing Rule 5550(a)(2) of the Nasdaq Stock Market.
Regaining compliance follows WaferGen's 1-for-5 reverse stock split of its outstanding common stock that became effective at 4:01 p.m. Pacific Time on November 28, 2016. This reverse stock split was implemented in order to increase the per share trading price of the company's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
WaferGen Bio-systems, Inc. is a biotechnology company that offers innovative genomic technology solutions for single-cell analysis and clinical research. The ICELL8™ Single-Cell System is a first of its kind system that can isolate thousands of single cells and processes specific cells for analysis, including Next Generation Sequencing. The system has demonstrated unbiased isolation of single cells from solid tumors, brain cells, pulmonary airway cells, and multiple cell lines. The SmartChip™ platform can be used for profiling and validating molecular biomarkers, and can perform massively-parallel singleplex PCR for one-step target enrichment and library preparation for clinical NGS. The Apollo 324™ system can be used to process DNA and RNA from clinical samples to next generation sequencing ready libraries. These technologies offer a powerful set of tools for biological analysis at the molecular and single-cell level in the life sciences, pharmaceutical, and clinical laboratory industries.
For additional information, please see http://www.wafergen.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this press release may address, among other subjects, the company's expected future stock price, the company's ability to obtain and maintain compliance with NASDAQ listing requirements and maintain the listing of the company's common stock on the NASDAQ Capital Market, and the company's future performance. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
WaferGen Bio-systems, Inc.
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SOURCE WaferGen Bio-systems, Inc.