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Rosetta Genomics Falls Short of Nasdaq Listing Requirement

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Rosetta Genomics disclosed after the close of the market on Thursday that it has been told by Nasdaq that it falls short of a listing requirement and could face delisting.

In a document filed with the US Securities Exchange Commission, the Israeli firm said it received a letter from Nasdaq on Dec. 6 saying its stockholders' equity had fallen below the minimum $2.5 million required to remain listed on the Nasdaq Capital market.

As a result, Rosetta Genomics will have to submit a plan to the exchange within 45 days detailing how it will regain compliance. The company said it intends to do so.

If Nasdaq accepts the plan, it can give Rosetta Genomics up to 180 days to carry out its plan. If the plan is found unacceptable, Nasdaq will provide written notice to the company that it is subject to delisting action. Rosetta Genomics can then appeal the decision to a Nasdaq Hearings Panel.

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