Biolase Inc. received a noncompliance notice from Nasdaq Stock Market for failing to meet the $1 minimum bid price requirement for the last 30 consecutive business days.

The company has 180 calendar days, or until Feb. 5, 2018, to regain compliance, by having the bid price of its common stock close at $1 or more for at least 10 consecutive days.

If Biolase does not regain compliance by the deadline, it may be eligible for an additional 180-calendar-day compliance period.

Biolase intends to monitor the closing bid price of its common stock and may consider available options to regain compliance.