Large Scale Biology scheduled to be delisted from Nasdaq Dec. 27

By Ted A. Knutson

Washington, Dec. 21 - Large Scale Biology Corp. said its shares will be delisted from the Nasdaq Capital Market at the start of business Dec. 27 unless the company requests a hearing.

The request for a hearing must be received by Nasdaq no later than 4 p.m. ET Dec. 22.

On Dec. 15, the company said Nasdaq notified it that the firm's shares had not closed at $1.00 per share or more for 30 consecutive business days since June 16 in violation of Nasdaq rules.

In addition, on Nov. 23 the Nasdaq staff notified the company that it does not comply with a requirement that the company have a minimum of $2.5 million in stockholders' equity or have a $35 million market value of listed securities or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.

The Vacaville, Calif.-based company develops therapeutics and industrial proteins, vaccines and diagnostic products.

The announcement was made in an 8-K filing with the Securities and Exchange Commission.

© 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.