Navigation Links
deCODE Receives Delisting Notice From Nasdaq, Plans to Appeal
Date:11/24/2009

REYKJAVIK, Iceland, November 24 /PRNewswire-FirstCall/ -- deCODE genetics, Inc. (Nasdaq:DCGN) today announced that it has received notice from the Nasdaq Stock Market that trading in the company's common stock will be suspended as of November 30, 2009 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove deCODE's common stock from listing on Nasdaq, unless the company files an appeal to the Nasdaq Listing Qualifications Panel. The company has filed such an appeal, which will stay the suspension and delisting through the conclusion of the appeals process. There is no guarantee that this appeal will be successful.

The notice from Nasdaq is pursuant to Listing Rules 5101, 5110 (b) and IM-5101-1, following the company's announcement on November 17 that it had filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The notice from Nasdaq also noted that the company is out of compliance with Listing Rule 5250(c)(1), as a result of its failure to have filed its quarterly report on Form 10-Q for the third quarter of 2009.

About deCODE

deCODE is a global leader in analysing and understanding the human genome. The company has identified key variations in the sequence of the genome conferring increased risk of major public health challenges from cardiovascular disease to cancer, and employs its gene discovery engine to develop DNA-based tests to assess individual risk of common diseases; to license its tests and intellectual property to partners; and to provide comprehensive, leading- edge contract services to companies and research institutions around the globe. Visit us on the web at http://www.decode.com; http://www.decodediagnostics.com; http://www.decodeme.com; and on our blog at http://www.decodeyou.com.

Any statements contained in this presentation that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding deCODE's expectations concerning the bankruptcy process and the continuation of day-to-day operations. deCODE's actual results could differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties, including, without limitation, (1) the impact of the announcement of its bankruptcy filing on deCODE's operations; (2) the ability of deCODE to maintain sufficient debtor-in-possession financing to fund its operations and the expenses of the Chapter 11 proceeding; (3) the ability of deCODE to obtain court approval of its motions in the Chapter 11 proceeding; (4) the outcome and timing of the proposed sale of deCODE's assets, including deCODE's ability to close a transaction with SagaInvestments, LLC or any other purchaser; (5) the uncertainty associated with motions by third parties in the bankruptcy proceeding; (6) deCODE's ability to obtain and maintain normal terms with vendors and service providers and contracts that are critical to its operation; and (7) other risks identified in deCODE's filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10-K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.

    Contacts:

    deCODE genetics

    Joy Bessenger
    +1-212-481-3891
    joy.bessenger@decode.is

    Edward Farmer
    +354-570-2819
    edward.farmer@decode.is

    Gisli Arnason
    +354-570-1900
    gisli.arnason@decode.is

SOURCE deCODE Genetics Inc


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. deCODE genetics, Inc. Announces Approval of First Day Motions by Bankruptcy Court
2. Amaizing: Corn genome decoded
3. deCODE Receives Nasdaq Bid Price Deficiency Notice
4. deCODE genetics Announces Second Quarter 2009 Financial Results
5. deCODE genetics Announces Webcast of Conference Call to Discuss Second Quarter 2009 Financial Results
6. Its Not Just the Sun: deCODE Discovers Sequence Variants Affecting Susceptibility to Skin Cancer
7. deCODE Discovers a Gene Linked to Risk of Kidney Stones and Osteoporosis
8. deCODE Reinstated to Nasdaq Global Market
9. deCODE Genotyping Laboratory Receives College of American Pathologists Accreditation
10. deCODE Study Shows Complex Interplay of the Human Biological Clock With Height, Weight and Disease
11. deCODE genetics Announces First Quarter 2009 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... PLAINVIEW, N.Y. , Jan. 18, 2017 ... pathology services, announces the formation of an Executive Committee ... 2017 and beyond. John Cucci , ... been promoted from Director of Business Development to ... in 2015, Mr. Cucci served in senior sales leadership ...
(Date:1/18/2017)... , Jan. 18, 2017 Applied ... mechanistic modeling to drug research and development, today ... Co-Founder, President, and CEO of Applied BioMath, will ... Informatics and Modeling (BAGIM) Meeting on Thursday January ... Cambridge , MA.   Dr. Burke,s talk ...
(Date:1/18/2017)... , ... January 18, 2017 , ... ... federally funded bio-focused Manufacturing Innovation Institutes (MII). U.S. Secretary of Commerce Penny Pritzker ... Biopharmaceuticals (NIIMBL), and the Department of Defense has announced the award of a ...
(Date:1/18/2017)... ... 18, 2017 , ... uBiome, the leading microbial genomics company, ... Editor, Dr. Elisabeth Bik, in the December 2016 issue of the Dutch Journal ... October 2016 from her previous position at Stanford University School of Medicine and ...
Breaking Biology Technology:
(Date:12/15/2016)... Germany , December 15, 2016 ... announced an agreement with NuData Security, an award-winning ... partnership will enable clients to focus on good customer experience, ... protection regulation. ... In order to provide a one-stop fraud prevention suite, ...
(Date:12/15/2016)... , Dec. 15, 2016  There is much more ... or starting the engine. Continental will demonstrate the intelligence ... Las Vegas . Through the combination of the ... Entry) and biometric elements, the international technology company is ... personalization and authentication. "The integration of biometric ...
(Date:12/8/2016)...  Singulex, Inc., the leader in Next Generation Immunodiagnostics ... license and supply agreement with Thermo Fisher Scientific, the ... access to Thermo Scientific BRAHMS PCT (Procalcitonin), a biomarker ... to diagnose systemic bacterial infection and sepsis and in ... in assessing the risk of critically ill patients for ...
Breaking Biology News(10 mins):