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Ciphergen and Nasdaq Exchange Resolve Dispute

Jan 24, 2006

NEW YORK, Jan.24, (GenomeWeb News) - The "E" appended to Ciphergen's ticker symbol will be gone tomorrow as the company has been informed by Nasdaq National Market officials that it has "evidenced compliance" in listing requirements, Ciphergen said today.

 

As GenomeWeb News reported last week, the Nasdaq questioned Ciphergen's July 2005 stock sale to Quest, suggesting that the deal "constituted a change of control which required shareholder approval" because the deal could result in Quest's owning more than 20 percent of the total outstanding shares. Ciphergen replied that Quest would not own more than 19.9 percent of Ciphergen.

 

Ciphergen declined to comment on the resolution of the dispute.

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