REYKJAVIK, Iceland, February 3 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq: DCGN) announced that on February 2, 2009, it received a letter from the Nasdaq Listing Qualifications Panel (the "Panel") stating that the Panel will transfer the listing of deCODE's common stock from the Nasdaq Global Market to the Nasdaq Capital Market, effective at the open of the trading session on Wednesday, February 4, 2009. The Nasdaq Capital Market, which is one of the three market tier designations for Nasdaq-listed stock, is a continuous trading market that operates in substantially the same manner as the Nasdaq Global Market. It includes the securities of approximately 550 companies. deCODE's trading symbol will remain DCGN and trading of its common stock will be unaffected by the transfer.
The Panel's determination follows deCODE's hearing before the Panel on December 18, 2008, regarding its non-compliance with Nasdaq Marketplace Rule 4450(b)(1)(A), which relates to the minimum market value of listed shares. The company's continued listing on the Nasdaq Capital Market is contingent upon successful completion by April 29, 2009, of a review process and the evidencing of compliance with all the requirements for continued listing on the Nasdaq Capital Market.
deCODE is a biopharmaceutical company applying its discoveries in human
genetics and its capabilities in chemistry and structural biology to the
development of drugs and diagnostics for common diseases. deCODE's
therapeutics programs include DG041, an antiplatelet compound being developed
for the prevention of arterial thrombosis; DG051 and DG031, compounds
targeting the leukotriene pathway for the prevention of heart attack; and
DG071 and a platform for other PDE4 modulators with therapeutic applications
in Alzheimer's disease and other cond
|SOURCE deCODE genetics Inc|
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