Dental laser company Biolase was recently delisted from Nasdaq for failure to meet certain requirements, effective June 20.
Three notes:
1. Nasdaq notified Biolase that it decided to delist the company for failure to satisfy the $1.00 minimum bid price listing requirement and failure to comply with the stock exchange's $2,500,000 minimum stockholders' equity requirement.
2. Biolase CEO John Beaver said that while the company was disappointed in its delisting, the company remains optimistic about the adoption of its laser technology within the dental industry.
3. The company said June 18 that it expects to begin trading its common stock on the OTC Markets Group platform June 20 using the symbol "BIOL."