Mass. medical device firms hit financial stumbling blocks
A trio of public Massachusetts medical device companies are struggling to overcome languishing stock prices and dwindling cash as they are hit by scientific and economic setbacks.
The three have received letters from major stock exchanges warning that prolonged stock prices under $1 put them in noncompliance with exchange rules and put the companies in jeopardy for eventual delisting. The companies’ woes have resulted in cost cutting, including layoffs at one firm, as the prolonged recession and federal regulatory changes drag on revenue.