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stock delisting

In a letter to the company, Nasdaq said that the firm is not in compliance with requirements that its stock equity be at least $10 million to remain trading on the Nasdaq Global Market.

Because the company considered it unlikely to meet the Nasdaq minimum market value requirement, it withdrew its appeal to Nasdaq on Nov. 12, resulting in the delisting on Nov. 16.

The company withdrew its appeal to the Nasdaq after determining its finances and near-term business prospects would make it unlikely that it could meet listing requirements.

The firm's shares will be delisted later this week, unless Helicos files an appeal.

The genetic test developer has moved its stock to the OTCQB, a new trading service run by Pink OTC Markets that is an alternative to the OTCBB.

The company plans to ask for a hearing with the Listing Qualifications Panel of the NYSE Amex in order to fight off possible delisting of its stock from the exchange.

The company's stock began trading on the Nasdaq this morning. It had traded on the Pink Sheets since being delisted in 2008.

The genetic-test maker plans to appeal the decision, which will stay the delisting.

The firm's shares currently do not meet the Nasdaq Stock Market's minimum bid price requirement.

The genetic test maker received an extension to June 23 from the exchange to regain compliance with listing requirements.

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Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.

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In Nature this week: CRISPR approaches to editing plant genomes, way to speed up DNA-PAINT, and more.