Advertisement

deCODE falls from NASDAQ grace

The NASDAQ giveth and the NASDAQ taketh away, especially if you're a biotechnology company. While California-based linkurl:Celera Genomics;http://www.the-scientist.com/blog/display/55142/ made it onto the semi-annually updated NASDAQ Biotechnology Index (NBI), Iceland biotech linkurl:deCODE Genetics;http://www.the-scientist.com/blog/display/55089/ was booted off of the NBI after the company's stock price plunged this fall, linkurl:GenomeWeb;http://www.genomeweb.com/issues/news/150778-1.html?CMP

By | November 18, 2008

The NASDAQ giveth and the NASDAQ taketh away, especially if you're a biotechnology company. While California-based linkurl:Celera Genomics;http://www.the-scientist.com/blog/display/55142/ made it onto the semi-annually updated NASDAQ Biotechnology Index (NBI), Iceland biotech linkurl:deCODE Genetics;http://www.the-scientist.com/blog/display/55089/ was booted off of the NBI after the company's stock price plunged this fall, linkurl:GenomeWeb;http://www.genomeweb.com/issues/news/150778-1.html?CMP=OTC-RSS reported today (Nov. 18). NASDAQ ranks biotech companies in May and September every year. The rankings are based on several criteria, including having at least $100 million in market capitalization, an average daily trading volume of at least 50,000 shares, and a net worth of at least $5 million. The linkurl:current rankings;http://dynamic.nasdaq.com/dynamic/nasdaqbiotech_activity.stm list 145 companies, including heavy hitters linkurl:Amgen Inc.,;http://www.the-scientist.com/article/display/19256/ linkurl:Affymetrix Inc.;http://www.the-scientist.com/news/display/52891/ and linkurl:Invitrogen Corp.;http://www.the-scientist.com/blog/display/55183/ deCODE's stock price dropped to $0.54 last month - below the $1 threshold set for NASDAQ listing. The company was given 180 days to pull that figure up, but as yet has not. One share in deCODE was trading at $0.32 as of 1 PM Eastern time today. The new listing, with the addition of Celera and the omission of deCODE, will take effect when the market opens on November 24.
Advertisement

Popular Now

  1. Most Earth-like Planet Found
  2. When Does a Smart Mouse Become Human?
  3. AAAAA Is for Arrested Translation
  4. Antibiotic Resistance Can Boost Bacterial Fitness
Advertisement
Advertisement
The Scientist