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Compugen Stock Transferred to Nasdaq Capital Market

NEW YORK (GenomeWeb News) – Compugen today said that its application to transfer its common stock from the Nasdaq Global Market to the Nasdaq Capital Market has been approved by the exchange.

The transfer was effective as of the opening of the stock market this morning. Compugen's shares continue to trade under the symbol "CGEN."

The transfer of Compugen's shares was not unexpected. Earlier this month, the firm said that it had received a letter from Nasdaq stating that the firm is currently not in compliance with listing regulations. Specifically, the exchange said that Compugen is not in compliance with regulations that state that it must have at least $10 million in stockholders' equity.

At the time, the firm said that it believes it is in compliance with the listing requirements for the Nasdaq Capital Market.

In early Wednesday trade, shares of Compugen were up 4 percent at $1.25.

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