Biocept Inc. undertook a 1-for-30 reverse split of its common stock, effective July 6.

The San Diego-based molecular oncology diagnostics company expects its stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis July 10.

In January, Biocept received a notice of noncompliance from Nasdaq for failing to maintain the minimum bid price requirement of $1 per share.

The company had a grace period of 180 days to regain compliance with the listing standards of Nasdaq.