American Bio Medica faces possible Nasdaq delisting

By Elaine Rigoli

Tampa, Fla., March 23 - American Bio Medica Corp. received a notice from Nasdaq on Wednesday informing the company that for the last 30 consecutive business days, the bid price of the company's common stock has closed below the minimum $1 per share requirement for continued listing.

The letter stated that American Bio Medica will have 180 calendar days, or until Sept. 18, to regain compliance.

To regain compliance before that date, the bid price of the company's common stock must close at $1 per share or more for a minimum of 10 consecutive business days.

Shares of the company (Nasdaq Capital: ABMC) were unchanged Thursday at $0.93.

Kinderhook, N.Y.-based American Bio Medica develops drug-testing kits.

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