Rehovot, Israel's Rosetta Genomics Ltd. said the Nasdaq hearing panel decided to delist the company's ordinary shares from the Nasdaq stock market.

Trading in the company's shares will be suspended effective May 22.

On April 16, Nasdaq told Rosetta Genomics it was in breach of a listing rule for failing to pay its annual listing fee on time. The company filed an appeal which allowed it to remain listed pending a hearing.

The company has two other listing deficiencies, for failing to maintain stockholders' equity of over $2.5 million and to timely file its Form 20-F for the period ended Dec. 31, 2017.

The hearing was held May 17, and Nasdaq informed the company of its decision on May 18.

Rosetta Genomics provides diagnostic tests for different types of cancers.