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Compugen Gets Deficiency Notice from Nasdaq

NEW YORK (GenomeWeb News) – Compugen has received a letter from Nasdaq stating that the firm is currently not in compliance with listing regulations.

The Tel Aviv-based company said that it received the letter on May 28. The firm is not in compliance with regulations that state that it must have at least $10 million in stockholders' equity. As of March 31, Compugen had stockholders' equity of around $8.9 million.

Compugen, which currently trades on the Nasdaq Global Market Marketplace, said that it can either submit a detailed plan of compliance by June 15, or apply to transfer to the Nasdaq Capital Market.

The firm said that it believes that, as of today, it is in compliance with the listing requirements for the Nasdaq Capital Market.

In early Tuesday trade, Compugen's shares were up 4 percent at $1.30.

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