Transgenomic to list common stock on Nasdaq capital market

By Elaine Rigoli

Tampa, Fla., Aug. 1 - Transgenomic, Inc. said Tuesday that it wants to transfer the listing of its common stock from the Nasdaq global market to the Nasdaq capital market because its common stock does not meet Nasdaq's minimum $1.00 per share bid price requirement for continued listing on the global market.

On Feb. 15, Transgenomic received a letter from Nasdaq's listing qualifications department indicating that it did not meet the minimum bid requirement. Nasdaq provided Transgenomic with a grace period of 180 calendar days, or until Aug. 14, to regain compliance.

By transferring to the capital market, Transgenomic said it expects to be afforded an additional 180-calendar day grace period in which to satisfy the $1.00 bid price requirement.

Transgenomic said it expects to receive Nasdaq's approval decision within the next two weeks and expects to maintain its current global market status pending approval of the transfer application.

Transgenomic is a global pharmaceutical company based in Omaha, Neb.

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