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Ciphergen Receives Non-Compliance Notice from Nasdaq

NEW YORK (GenomeWeb News) - The Nasdaq exchange has notified Ciphergen Biosystems that it is subject to delisting because its market capitalization has fallen below $50 million for 10 consecutive business days.
 
Ciphergen said on Friday that it received the notice from Nasdaq's Listings Qualification Department on June 26.
 
Nasdaq had previously told the company that it had a period of 30 calendar days, or until June 23, to regain compliance.
 
Ciphergen said that it will request a hearing before a Nasdaq Listing Qualifications Panel to appeal the determination.

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