Large Scale Biology Receives Notice of Noncompliance From Nasdaq Capital Market
22 Dezember 2005 - 1:30AM
PR Newswire (US)
VACAVILLE, California, Dec. 21 /PRNewswire-FirstCall/ -- On
December 15, 2005, Large Scale Biology Corporation (NASDAQ:LSBCD)
received notice from the staff of Nasdaq that, pursuant to the June
16, 2005 notice from the Nasdaq staff, the Company has not regained
compliance with Marketplace Rule 4450(a)(5), which requires a
minimum bid price of $1.00 per share for the Company's common stock
for a minimum of ten consecutive business days prior to December
13, 2005. In addition, the Company does not qualify for an
additional 180 calendar day compliance period because it does not
meet the Capital Market initial inclusion criteria set forth in
Marketplace Rule 4310(c). Further, the Company does not comply with
Marketplace Rule 4310(c)(2)(B), which requires the Company to have
a minimum of $2,500,000 in stockholders' equity or $35,000,000
market value of listed securities or $500,000 of net income from
continuing operations for the most recently completed fiscal year
or two of the three most recently completed fiscal years.
Therefore, the Company's securities are subject to delisting from
The Nasdaq Capital Market effective at the opening of business on
December 27, 2005. The Company may appeal the decision to a Nasdaq
Listing Qualifications Panel. About Large Scale Biology Corporation
Large Scale Biology Corporation uses its proprietary gene
expression, molecular engineering and bioprocessing technologies to
develop and manufacture therapeutic and industrial proteins,
vaccines and diagnostic products for effective characterization and
treatment of disease. Corporate offices, R&D laboratories and
Predictive Diagnostics, Inc. are headquartered in Vacaville,
California, and the Company's commercial-scale biomanufacturing
facility is located in Owensboro, Kentucky. For more information
about Large Scale Biology Corporation, visit the Company's website
at http://www.lsbc.com/. NOTE: LSBC(TM) is a trademark of Large
Scale Biology Corporation. Contact: Large Scale Biology Corporation
707-446-5501 Ronald J. Artale, Chief Operating Officer and Chief
Financial Officer 707-446-5501, x320 DATASOURCE: Large Scale
Biology CONTACT: Ronald J. Artale, Chief Operating Officer and
Chief Financial Officer of Large Scale Biology Corporation,
+1-707-446-5501, ext. 320 Web site: http://www.lsbc.com/
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