Sequenom gets delisting notice from Nasdaq

By Jennifer Chiou

New York, Sept. 20 - Sequenom, Inc. said it received a letter from The Nasdaq Stock Market on Friday indicating it does not comply with the $1.00 minimum bid price requirement for continued listing.

The company has 180 days or until March 15 to regain compliance by having its stock close at or above $1.00 per share for at least 10 consecutive business days.

Nasdaq has the option to require Sequenom stock to close at or above $1.00 for a longer period.

If by March 15, the company has not regained compliance with the Nasdaq requirement, its stock will be delisted. At that time, Sequenom may appeal the delisting.

Nasdaq may also consider the transfer of Sequenom's listing to The Nasdaq SmallCap Market, conditioned upon listing requirements. If that scenario occurred, the company would have a second 180-day compliance period to meet the $1.00 minimum requirement.

Sequenom is a San Diego company that provides genetic analysis products, translating genomic science for biomedical research, molecular medicine and agricultural applications.

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