Boston, MA – (NYSEPOST) – 02/05/2014 – On the 2nd day of being traded on the new lower-tier of the NASDAQ exchange, BG Medicine, Inc (NASDAQ:BGMD) stock rose by the double-digit percentage in the 1st hour of trading after its published an article that flaunted the effectiveness of the heart diagnostic test that the company has helped in developing. The timing of this study of the Vidas-Galectin-3 assay that has been developed along with bioMerieux SA, in the journal, Clinica Chimica Acta is very coincidental. This report comes just a day post BG Medicine, Inc (NASDAQ:BGMD) moved from NASDAQ’s Global-Exchange to the Capital Market, which typically lists much smaller companies and its requirements are also lower.
This move come just 1 year after which BG Medicine, Inc (NASDAQ:BGMD) had received numerous warnings that it will be delisted as it had failed to maintain the $50M market value that is the minimum requirement for the listed securities. The other requirement is that the stock also has to maintain a minimum stock closing of $1, which it had not been able to meet. BG Medicine, Inc (NASDAQ:BGMD) has the time until 15 April during which it can satisfy these minimum requirements for the NASDAQ Capital Market.
The company will have to maintain a minimum market capitalization of $35 million for a minimum of 10 successive days or it will have to have $2.5M in stockholder-equity. This latest news might just help BG Medicine, Inc (NASDAQ:BGMD) meet that basic requirement.In Tuesday’s trading, BG Medicine, Inc (NASDAQ:BGMD)’s stock closed at $ 1.15 though its market capitalization stands at approximately $ 32.11 million currently. Investors seem to be a little encouraged now that the latest study has shown some change. BG Medicine, Inc (NASDAQ:BGMD) is company that operates in the life-sciences field and focuses on discovering,developing and he commercialization of cardiovascular diagnostics to address different unmet medical needs.