Ciphergen receives second Nasdaq delisting warning

By Angela McDaniels

Seattle, Dec. 7 - Ciphergen Biosystems Inc. said it has been warned that it failed for an additional reason to comply with the continued listing requirements of The Nasdaq National Market.

The market value of the company's listed securities fell below $50 million for 10 consecutive business days, the company was told in a letter from Nasdaq. The company has until Jan. 3 to regain compliance.

In November, Ciphergen was told it faced delisting after failing to file its 10-Q financial report for the quarter ended Sept. 30 on time. Ciphergen said it will appeal Nasdaq's delisting determination at a hearing before the Nasdaq Listing Qualifications Panel on Thursday.

Ciphergen Biosystems is based in Fremont, Calif., where it researches protein biomarkers and develops them into a family of ProteinChip Systems and services for clinical, research, and process proteomics applications.

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