Lipid says it is in compliance with Nasdaq requirements

By Elaine Rigoli

Tampa, Fla., Aug. 17 - Lipid Sciences, Inc. said it has notified Nasdaq that as a result of the closing of its $6.3 million private placement of common stock and warrants on Aug. 8, it currently meets the stockholders' equity threshold and is in compliance with the Nasdaq Global Marketing listing requirements.

The company said it had been advised by the Nasdaq Listing Qualifications Staff that based on its June 30 balance sheet contained in its 10-Q quarterly report filed on Aug. 9, Lipid did not comply with the minimum $10 million stockholders' equity requirement for continued listing on The Nasdaq Global Market.

Lipid reported stockholders' equity of $8,412,000 as of June 30.

Lipid is a development-stage biotechnology company based in Pleasanton, Calif.

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