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:10/12/2017)... Diego, CA (PRWEB) , ... ... ... (https://www.onramp.bio/ ) has launched Rosalind™, the first-ever genomics analysis platform specifically ... all bioinformatics complexity. Named in honor of pioneering researcher Rosalind Franklin, who ...
(Date:10/11/2017)... ... , ... ComplianceOnline’s Medical Device Summit is back for its 4th year. The ... Francisco, CA. The Summit brings together current and former FDA office bearers, regulators, industry ... officials from around the world to address key issues in device compliance, quality and ...
(Date:10/11/2017)... ... 11, 2017 , ... Disappearing forests and increased emissions are the main causes ... each year. Especially those living in larger cities are affected by air pollution related ... the most pollution-affected countries globally - decided to take action. , “I knew I ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... company advancing targeted antibody-drug conjugate (ADC) therapeutics, today confirmed licensing rights that ... Polymerized Liposomal Nanoparticle), a technology developed in collaboration with Children’s Hospital Los ...
Breaking Biology Technology:
(Date:4/5/2017)... April 4, 2017 KEY FINDINGS ... expand at a CAGR of 25.76% during the forecast ... the primary factor for the growth of the stem ... https://www.reportbuyer.com/product/4807905/ MARKET INSIGHTS The global stem cell ... application, and geography. The stem cell market of the ...
(Date:3/30/2017)... -- Trends, opportunities and forecast in this market to ... AFIS, iris recognition, facial recognition, hand geometry, vein recognition, ... industry (government and law enforcement, commercial and retail, health ... and by region ( North America , ... , and the Rest of the World) ...
(Date:3/24/2017)... , Mar 24, 2017 Research and Markets ... System Market Analysis & Trends - Industry Forecast to 2025" ... ... grow at a CAGR of around 15.1% over the next decade ... industry report analyzes the market estimates and forecasts for all the ...
Breaking Biology News(10 mins):