Ciphergen faces possible Nasdaq delisting

By Elaine Rigoli

Tampa, Fla., June 30 - The Nasdaq Listings Qualification Department has notified Ciphergen Biosystems, Inc. that the company has failed to comply with Nasdaq requirements for continued listing because the market value of the company's listed securities has fallen below $50 million for 10 consecutive business days.

Under Nasdaq rules, Ciphergen has 30 days, or until June 23, to regain compliance.

On June 26, Ciphergen received a subsequent Nasdaq staff determination letter indicating that Ciphergen fails to comply with the requirement for the total market value of publicly held shares necessary for continued listing and that its securities are, therefore, subject to delisting from the Nasdaq.

Located in Fremont, Calif., Ciphergen develops ProteinChip systems and services for clinical, research and process proteomics applications.

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