BIOLASE(BIOL) today announced that it has received a 180-day extension from The NASDAQ Stock Market to recover compliance with the minimum bid price requirement for continued listing on The NASDAQ Capital Market. BIOL stock jumps 23% in the pre-market session to $0.51 from $0.42, hours after the news. If at any time before May 23, 2022, the bid price of its common stock closes at or over $1.00 per share, BIOLASE will either recover compliance or close the matter.
BIOLASE, a medical device company, announced that it has entered into an amendment to its loan with SWK Funding LLC. This loan extension and lower interest rate will take effect on May 31, 2025. The NASDAQ Stock Market has granted BIOLASE a 180-day extension to demonstrate its continued progress and financial stability. This extension is also beneficial to the company as it allows it to continue to execute its growth strategy. BIOLASE’s continued operating momentum is evidenced by the increasing number of customers for its dental lasers. The company’s healthy balance sheet and robust revenue growth have helped it achieve its growth plans.