NEW YORK (GenomeWeb News) – Decode Genetics said after the close of the market Thursday that it has received a notice from the Nasdaq Stock Market informing the firm that its is not in compliance with certain rule of the market.
Specifically, Nasdaq told the firm that it is not in compliance with the minimum bid price rule, because the closing bid price for its shares has been below $1 per share for 30 consecutive business days.
Decode has until March 15, 2010, to regain compliance with the rule, the company said. It can regain compliance by having its stock close at $1 per share or more for at least 10 consecutive business days any time before March 15.
Last spring, Nasdaq stayed delisting of Decode's stock after it had been under threat of delisting for several months.
Decode's shares closed up 3 percent at $.53.