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Nasdaq Warns Helicos of Potential Delisting

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This story was originally published Oct. 15.

Helicos has received a letter from Nasdaq stating that it has failed to regain compliance with the exchange's minimum bid price requirement and that its shares could be suspended on Oct. 21.

Helicos received the delisting determination letter on Oct. 12, according to documents filed on Friday with the US and Securities Exchange Commission.

Nasdaq notified the firm in April that its shares had closed below its minimum $1 per share bid price for 30 consecutive business days. Helicos would have been able to regain compliance by achieving a closing bid price of at least $1 for 10 consecutive business days before Oct. 11 (IS 4/20/2010).

The company's shares have hovered around $0.50 since September and closed at $0.43 on Friday.

Helicos said that it "expects to appeal" the determination, which will stay the delisting until the Nasdaq hearings panel issues a written decision.

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