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Vermillion Delisted from Nasdaq; Will Trade on Pink Sheets

NEW YORK (GenomeWeb News) – Vermillion said today that it has been delisted from the Nasdaq Capital Market as of this morning due to noncompliance with Nasdaq’s minimum requirements.
 
The Nasdaq Listing Qualifications Panel determined that Vermillion was not in compliance with Marketplace Rule 4310(c)(3), which requires firms to have a minimum of $2.5 million in stockholders’ equity; $35 million in market value of listed securities; or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
 
Nasdaq initially warned the company in February that it was in danger of delisting due to noncompliance with the rule. In April, Vermillion requested a hearing with the panel, and in June the exchange granted the firm until Sept. 22 to regain compliance.
 
Vermillion said today that its securities are eligible for the Pink Sheets over-the-counter service, where they will continue to trade under the symbol VRML.
 
In addition, the company said it anticipates that it will trade on the Over-the-Counter Bulletin Board in the “near future.”

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