Sequenom may be delisted from Nasdaq

By Angela McDaniels

Seattle, March 21 - Sequenom Inc.'s common stock is scheduled to be delisted from the Nasdaq National Market at the opening of business on March 27, according to an 8-K report filed with the Securities and Exchange Commission on Tuesday.

The bid price of the company's common stock fell below $1.00 per share in September, when the company was given a 180-day grace period in which to raise the bid price. The stock closed at $0.72 on March 15, the expiration of the grace period.

Sequenom said it plans to request a hearing before the Nasdaq Listing Qualifications Panel, which will postpone the delisting. The hearing will be scheduled within 30 to 45 days of Sequenom's request.

If the panel refuses Sequenom's request for continued listing on The Nasdaq National Market, the company's stock will be delisted or transferred to The Nasdaq Capital Market.

Sequenom is a San Diego-based biotechnology company that makes genetic analysis products.

Shares of the company (Nasdaq: SQNM) closed down $0.0029, or 0.40%, at $0.7201 on Tuesday.

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