REYKJAVIK, Iceland, September 17 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq: DCGN) today announced that it has received a notice from the Nasdaq Stock Market indicating that deCODE is not in compliance with Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price Rule") because the closing bid price per share for its common stock has been below $1.00 per share for 30 consecutive business days. In accordance with Nasdaq Listing Rules, deCODE will be provided 180 calendar days, or until March 15, 2010, to regain compliance with the Minimum Bid Price Rule. deCODE can achieve compliance if at any time before March 15, 2010, its common stock closes at $1.00 per share or more for at least 10 consecutive business days. This notification has no effect on the listing of deCODE's common stock at this time.
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 and scans 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. deCODE is delivering on the promise
of the new genetics.SM Visit us on the web at http://www.decode.com; at
http://www.decodediagnostics.com; at http://www.decodeme.com; and on our blog
|SOURCE DeCODE Genetics Inc|
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