Ra Medical Systems (NYSE:RMED) announced today that it received notice that is is no longer in compliance with the New York Stock Exchange’s listing standards.
The Carlsbad, Calif.-based company learned that it is not complying with the NYSE continued listing standard that requires companies to maintain an average closing share price of at least $1 over a consecutive 30-trading-day period.
The company develops the Dabra minimally-invasive excimer laser system. The Dabra system is designed to destroy arteriosclerotic blockages through the use of radiation ablation. The system won FDA 510(k) clearance in May 2017 for the treatment of occlusive peripheral vascular disease after the artherectomy catheter system received CE Mark approval in October 2016.