Exact Sciences gets Nasdaq compliance notice

Exact Sciences Corp., a Marlborough company that specializes in cancer screening, announced today that it has been notified by the Nasdaq Stock Market that it is not in compliance with a listing requirement.

The company said it received a Nasdaq notice dated yesterday that it is not in compliance with a rule that requires a listed security to maintain a minimum $50 million market capitalization for continued listing on the Nasdaq Global Market.

The notice has no immediate effect on the company's listing, and its common stock will continue to trade on the Nasdaq Global Market, Exact Sciences said.

In accordance with Nasdaq marketplace rules, Exact Sciences said it will be provided a period of 30 calendar days, or until August 11, to regain compliance with the rule.

Exact Sciences said that it is also looking at other options. If the company cannot meet the requirements for continued listing on the Nasdaq Global Market, it may apply to transfer to the Nasdaq Capital Market, the company said.

Exact Sciences was in the news for another reason earlier this week.

Yesterday it provided a regulatory update on "Version 2" DNA technology for cancer screening.
(By Chris Reidy, Globe staff)