Icagen shares can keep trading on the Nasdaq.
The Durham drug-development company held a reverse stock split last month to satisfy minimum listing requirements on the Nasdaq and avoid being delisted.
The move traded in eight existing shares for one new one, reducing the total number outstanding and raising the per-share price. That bumped Icagen's stock above $1 for 10 consecutive trading days, putting it back in compliance with the Nasdaq, the company announced today.
Icagen's shares closed at $1.21 today, down 3 cents.
The shares began trading publicly at $8 each in Feb. 2005, but have fallen as the company struggled to move ahead with a successful experimental medicine.
Icagen is developing treatments for epilepsy and pain.
After the reverse stock split, the shares began trading under the temporary ticker symbol "ICGND" but will revert to "ICGN" soon.