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Helicos Gets Delisting Notice from Nasdaq

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Helicos BioSciences disclosed in a filing with the US Securities and Exchange Commission last night that it has received a notice from the Nasdaq Stock Market that its stock is currently not in compliance with listing requirements.

Specifically, Helicos said that Nasdaq had notified the firm that its shares have closed below the minimum $1 per share bid price for the previous 30 consecutive business days. As a result, its stock is not in compliance with Nasdaq's regulations.

Helicos has until Oct. 11, 2010 to regain compliance with the minimum bid price requirement. If Helicos' shares achieve a closing bid price of at least $1 for 10 consecutive business days before the Oct. 11 deadline, Nasdaq will notify the firm that it has achieved compliance with the rule.

If the firm does not regain compliance, it will be delisted from the Nasdaq Global Market.

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