Genelabs faces possible delisting from Nasdaq Capital Market, plans to request hearing

By Lisa Kerner

Erie, Pa., May 22 - Genelabs Technologies, Inc. said it was notified by the Nasdaq Stock Market, Inc. that its common stock is subject to delisting from the Nasdaq Capital Market.

The company does not meet Nasdaq Marketplace Rule 4310(c)(2)(B), which requires the company to have a minimum of $2.5 million in shareholder's equity or a market capitalization of $35 million, according to a company news release.

Genelabs said it intends to request a hearing, which will automatically stay the delisting.

Genelabs is a biopharmaceutical company located in Redwood City, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.