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.
About WaferGen
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.
INVESTOR CONTACT:
WaferGen Bio-systems, Inc.
Rollie Carlson
510-277-3417
Rollie.Carlson@wafergen.com
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SOURCE WaferGen Bio-systems, Inc.
