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:10/10/2017)... ... 2017 , ... The Pittcon Program Committee is pleased to ... who have made outstanding contributions to analytical chemistry and applied spectroscopy. Each award ... conference and exposition for laboratory science, which will be held February 26-March 1, ...
(Date:10/9/2017)... , ... October 09, 2017 , ... The award-winning American ... broadcast first quarter 2018. American Farmer airs Tuesdays at 8:30aET on RFD-TV. , ... faced with the challenge of how to continue to feed a growing nation. At ...
(Date:10/9/2017)... Arizona (PRWEB) , ... October 09, 2017 , ... ... Kindred, a four-tiered line of medical marijuana products targeting the needs of consumers ... and packaging of Kindred takes place in Phoenix, Arizona. , As operators of ...
(Date:10/7/2017)... ... October 06, 2017 , ... ... and applications consulting for microscopy and surface analysis, Nanoscience Instruments is now ... Analytical offers a broad range of contract analysis services for advanced applications. ...
Breaking Biology Technology:
(Date:4/13/2017)... April 13, 2017 UBM,s Advanced Design and ... will feature emerging and evolving technology through its 3D ... will run alongside the expo portion of the event ... and demonstrations focused on trending topics within 3D printing ... and manufacturing event will take place June 13-15, 2017 at ...
(Date:4/11/2017)... NXT-ID, Inc. (NASDAQ:   NXTD ) ... appointment of independent Directors Mr. Robin D. Richards ... Directors, furthering the company,s corporate governance and expertise. ... Gino Pereira , Chief Executive ... their guidance and benefiting from their considerable expertise as we ...
(Date:4/4/2017)... 4, 2017   EyeLock LLC , a leader ... United States Patent and Trademark Office (USPTO) has issued ... linking of an iris image with a face image ... the company,s 45 th issued patent. ... timely given the multi-modal biometric capabilities that have recently ...
Breaking Biology News(10 mins):