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HELICOS BIOSCIENCES Message Board

  • bb4527tt bb4527tt Apr 29, 2010 12:47 PM Flag

    Great news!!!

    Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St



    Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing
    Rule or Standard; Transfer of Listing.
    On April 14, 2010, Helicos BioSciences Corporation (the "Company") received a letter from The NASDAQ Stock Market LLC ("NASDAQ") advising that for the previous 30 consecutive business days, the bid price of the Company's common stock (the "Common Stock") had closed below the minimum $1.00 per share requirement for continued inclusion on the NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 5450(a)(1). This notification has no effect on the listing of the Common Stock at this time.

    NASDAQ stated in its letter that in accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), the Company will be provided 180 calendar days, or until October 11, 2010, to regain compliance with the minimum bid price requirement. The NASDAQ letter also states that if, at any time before October 11, 2010, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the NASDAQ staff will provide the Company with written notification that it has achieved compliance with the minimum bid price requirement.

    If the Company does not regain compliance with the minimum bid price requirement by October 11, 2010, the NASDAQ staff will provide the Company with written notification that the Common Stock will be delisted from the NASDAQ Global Market. At that time, the Company may appeal the delisting determination to a NASDAQ Listings Qualifications Panel pursuant to applicable NASDAQ rules. Alternatively, NASDAQ Marketplace Rule 5505 may permit the Company to transfer the Common Stock to the NASDAQ Capital Market if the Common Stock satisfies all criteria, other than compliance with the minimum bid price requirement, for initial inclusion on such market. In the event of such a transfer, the NASDAQ Marketplace Rules provide that the Company will be afforded an additional 180 calendar days to comply with the minimum bid price requirement while listed on the NASDAQ Capital Market.

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    • Nice,you finally tell the truth!

    • I just went back to review some older posts and found this one. From my understanding of the Nasdaq Global requirement letter that was issued to HLCS back in April, it seems that more than likely HLCS will be moving from the Nasdaq Global Market (GM)to the Nasdaq Common Market (CM) as of October 11, 2010 (Monday). It appears that HLCS has not made the $1 minimum pps requirement (for 10 consecutive days) to be in compliance with the Nasdaq GM rules. Correct me if I'm wrong, but this does not seem to be anything catastrophic or out of the ordinary. I think that the GM has stricter compliance rules than the CM. There are plently of successful companies trading on the CM, so if this should happen, I don't think that it will affect the pps (IMHO). HLCS also has the right to appeal the move. Anyway, I guess that we can expect a notification of this move, or an appeal, sometime next week. I guess we'll find out what they decide to do next week. This is all IMHO.

    • Hey, 5 stars. Right from the co.s filing. Can't dispute that. Great find.