November 25, 2009 (FinancialWire) deCODE genetics, Inc. (NASDAQ: DCGN) said it has received notice from the NASDAQ Stock Market that trading in the companys common stock will be suspended as of November 30, 2009 and a form 25-NSE will be filed with the Securities and Exchange Commission, which will remove deCODEs common stock from listing on NASDAQ, unless the company files an appeal to the NASDAQ Listing Qualifications Panel.
The company said it has filed such an appeal, which will stay the suspension and delisting through the conclusion of the appeals process. It cautioned that there is no guarantee that this appeal will be successful.
Iceland-based deCODE is engaged in analysing and understanding the human genome. The company has identified key variations in the sequence of the genome conferring increased risk of major public health challenges from cardiovascular disease to cancer, and employs its gene discovery engine to develop DNA-based tests to assess individual risk of common diseases; to license its tests and intellectual property to partners; and to provide comprehensive, contract services to companies and research institutions around the globe.
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