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FORT COLLINS - Stockholders in Heska Corp. (Nasdaq HSKA) and company officials alike are sharing New Year's jitters over the company's sagging stock price, which has dipped below the $1 minimum required for listing on the Nasdaq exchange.
The Fort Collins-based veterinarypharmaceutical company, after years of losses, is proceeding with a network of global partnerships that Heska managers insist will lead to profitability.
But the slumping market in late December was especially unkind to Heska dragging its share price from $1.50 on Dec. 8 to 69 cents by Dec. 29, a 54 percent drop.
"I think it's always a concern when your stock price drops below a dollar," said Ron Hendrick, Heska executive vice president and chief financial officer. "When it stays below a dollar, you are subject to delisting."
The National Association of Securities Dealers, the Nasdaq market manager, requires a minimum bid price of $1 for inclusion in listings. A 30-day average below that mark...