Stereotaxis (NSDQ:STXS) received notice from the NASDAQ stock exchange that it could be delisted if its share prices stay below the $1 mark.
The robotic cardiac surgical systems maker has until July 18 to boost its share value, which has been trading under the $1 mark since closing at 95 cents Dec. 7, 2011.
Shares have hovered around 80 cents for most of January and closed at 80 cents today.
To get back in the exchange’s good graces, STXS stock must post above $1 for 10 consecutive trading days, according to SEC filings, although Stereotaxis may file for an appeal if it fails to stay above water but meets all other listing standards.
The St. Louis, Mo.-based company had a tough slog in 2011, culminating in a shareholder lawsuit over dismal Q2 earnings.
Shareholders sued the company and its management in November 2011, accusing them of misleading investors about its backlog of orders, even as senior executives took voluntary pay cuts through 2013.
The case was spurred by the nosedive STXS shares took in August, after the company released dismal 2nd-quarter numbers and suspended its 2011 guidance.