This article was originally published Nov. 15.
Helicos BioSciences was delisted from the Nasdaq Global Market Nov. 16 after failing to comply with listing requirements.
In June, Helicos received a letter from Nasdaq notifying it that it had failed to comply with the minimum market value requirement for the previous 30 consecutive business days. The company was given 180 calendar days, or until Dec. 27, to regain compliance.
On Oct. 12, the company then received a delisting determination letter from Nasdaq due to its failure to regain compliance with Nasdaq's minimum bid price requirement for continued listing (IS 10/19/2010). It also has not yet held its annual meeting of stockholders this year, another requirement for continued listing on Nasdaq.
Because the company considered it unlikely to meet the Nasdaq minimum market value requirement, it withdrew its appeal to Nasdaq on Nov. 12, resulting in the delisting on Nov. 16, the company disclosed in a filing with the Securities and Exchange Commission this week.
Helicos' securities are now trading on the OTCQB, a market tier for over-the-counter traded companies that are registered with the SEC, still under the symbol HLCS.