Stereotaxis stock plummets as former biotech darling faces delisting

Stereotaxis’ share price tumbled Wednesday after the St. Louis-based company announced that it would be delisted from the Nasdaq Stock Market, effective when the market opens Thursday.

The share price fell 42 cents, or 33 percent, to close Wednesday at 92 cents.

Nasdaq notified Stereotaxis Tuesday that it no longer met the minimum market capitalization of $35 million. The company will now become a pink sheet stock, effective Thursday morning.

Stereotaxis, a company that makes computerized systems to treat heart arrhythmias, was once the darling of the biotech startup scene in St. Louis.

As the region’s first biotech startup to go public, it was touted as the “poster child” for life-science startups. Its technology systems were installed in hospitals all around the world, but first here at Barnes-Jewish Hospital.

Read more: St. Louis Post-Dispatch

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