NEW YORK (GenomeWeb News) – Genetic-test maker Interleukin Genetics said after the close of the market Friday that it has received a delisting notice from the New York Stock Exchange's American Stock Exchange.
The firm said that the exchange has initiated delist proceedings because it has not regained compliance with certain regulations — it has stockholders' equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.
Interleukin received an initial letter of non-compliance from the exchange in December 2008. This past March, it said that the NYSE had granted the firm an extension to meet the exchange's continued listing standards.
Interleukin said that it will request a hearing with the exchange's Listing Qualifications Panel to appeal the decision. The request will stay delisting of the firm's stock until the panel issues a decision after the hearing.