Sequenom Will Receive Nasdaq Delisting Warning if Shares Close Below $1 Today

NEW YORK, Sept. 15 (GenomeWeb News) - Sequenom will receive a delisting warning letter from the Nasdaq exchange if the company's share price closes below $1 today.

Sequenom's shares have been trading below $1 for the last 29 days, closing at $.89 yesterday. Nasdaq sends out delisting warning letters whenever a company's stock fails to keep the closing price of its shares at or above $1 for 30 consecutive trading days.

This is not the first time that Sequenom comes close to a Nasdaq warning. In December, the company missed a warning letter by a single day, and came similarly close in September of 2004.

Yesterday, the company said it will will lay off around 30 percent of its workforce, or 44 staffers, in a large-scale restructuring aimed at cutting costs and redirecting resources.