WALTHAM, Mass., June 25 /PRNewswire-FirstCall/ -- Interleukin Genetics, Inc. (NYSE Amex: ILI) announced today that on June 24, 2010, it received notification from the Corporate Compliance Staff of the NYSE Amex LLC (the "Exchange") that the Exchange intends to initiate proceedings to delist the Company's common stock because it did not regain compliance with Section 1003(a)(iii) of the Exchange's Company Guide due to stockholders' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years. The Company intends to timely request a hearing before a Listing Qualifications Panel (the "Panel") to appeal the Exchange Staff's delisting determination. The hearing request automatically stays the delisting of the Company's common stock until the Panel issues its decision following the hearing. At the hearing, the Company will present its plan to regain compliance and will request the continued listing of its securities on the Exchange. There can be no assurance that the Panel will grant the Company's request.
About Interleukin Genetics, Inc.
Interleukin Genetics, Inc. (NYSE Amex: ILI) develops and markets genetic tests that empower consumers to prevent certain chronic diseases and that assist pharmaceutical companies in the development and marketing of targeted therapeutics. The Company leverages its research, intellectual property and biomarker development experience to facilitate the emerging personalized health market. Interleukin Genetics markets a line of genetic tests u
|SOURCE Interleukin Genetics, Inc.|
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