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Nasdaq Bumps DeCode from Global Market

NEW YORK (GenomeWeb News) — DeCode Genetics' stock has been moved from the Nasdaq Global Market to the Nasdaq Capital Market after failing to maintain a minimum market value for listed shares, the company said today.

Nasdaq decided to move DeCode to the Capital Market, which is one of three Nasdaq tiers, after a review hearing on Dec. 18, 2008, regarding its non-compliance with the market's rules.

The move to the Capital Market took effect this morning and the company will continue to be listed there, under the same market symbol (DCGN), until a review process is completed by April 29.

The company's stock was trading at $.22 per share this morning, and its current market capitalization is around $13.6 million.

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