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Orchid, Struggling to Escape Delisting, Plans to Appeal Nasdaq Decision

Jan 13, 2003

NEW YORK, Jan. 13-Orchid Biosciences has received a delisting warning notice from Nasdaq, the company said today.

 

Orchid's stock has traded below $1.00 since Sept. 3, which means it is in violation of the rules for continued listing on the exchange.

 

Orchid plans to request a hearing regarding the decision, and its stock will continue to be traded pending the outcome of that hearing.

 

The company is considering a reverse stock split, pending shareholder approval.

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