Shares of Marpai fell after the company received a delisting notice from Nasdaq.
The stock was down 11% at $2.07 in early trading. Shares have fallen 28% since the start of the year.
The technology company, which offers AI-powered health-plan services, disclosed in a securities filing that Nasdaq sent a letter informing Marpai that it hasn’t regained compliance with a requirement for the market value of its listed shares to be above $35 million.
As a result, its securities are set to be delisted on Dec. 7. Marpai said it intends to immediately file an appeal, which would suspend the delisting until a hearings panel has made a final determination in the matter.