T2 Biosystems (TTOO) said Tuesday the Nasdaq Hearings Panel has determined to delist its shares, with trading of the stock to be suspended from Feb. 12.
The company said it does not plan to pursue any further appeal of the ruling after it failed to meet the requirements for bid price and the market value of listed securities.
T2 said its shares are expected to begin trading on the OTC Markets system Wednesday.
Shares of T2 Biosystems were down about 20% in recent trading.
Price: 0.15, Change: -0.04, Percent Change: -20.68
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