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Trouble for deCODE

Iceland biotech linkurl:deCODE Genetics;http://www.the-scientist.com/2008/4/1/20/1/ is taking a hit from the global financial downswing. The company's stock price has plunged 54% since September to $0.45 a share. According to NASDAQ's s regulations, companies must keep their share prices over $1. DeCODE dipped below $1 on September 10, and has 180 days to bounce back to maintain a NASDAQ listing. (The company's net worth, $27.88 million, puts it above the $5 million -- not $50 million, as lin

Andrea Gawrylewski
Iceland biotech linkurl:deCODE Genetics;http://www.the-scientist.com/2008/4/1/20/1/ is taking a hit from the global financial downswing. The company's stock price has plunged 54% since September to $0.45 a share. According to NASDAQ's s regulations, companies must keep their share prices over $1. DeCODE dipped below $1 on September 10, and has 180 days to bounce back to maintain a NASDAQ listing. (The company's net worth, $27.88 million, puts it above the $5 million -- not $50 million, as linkurl:Nature reported;http://www.nature.com/news/2008/081014/full/455842a.html?s=news_rss -- required to keep its listing.) "We have been seriously influenced by the American banking crisis and not the Icelandic," Kari Stefansson, founder and CEO of the company told Nature. "But we will survive. We are working on refinancing and restructuring the company. And we are fairly optimistic today that we will succeed." The Iceland economy has been in free-fall for nearly a month, with the government seizing banks and...
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