Business Update

Biotechnology company receives NASDAQ notice of noncompliance, submits plan

Published in Gene Therapy Weekly, June 23rd, 2005

On May 5, 2005, Large Scale Biology Corporation (LSBC) submitted a plan of compliance to NASDAQ following notice from NASDAQ that the company no longer complied with Marketplace Rule 4450(a)(3).

According to the notice, noncompliance occurred because the company's stockholders' equity of $9,431,000 as reported on the form 10-K for the year ended December 31, 2004, was less than the $10,000,000 stockholders' equity requirement for continued listing. The company's stockholders' equity as reported on the form 10-Q for the quarter ended March 31, 2005, was $5,645,000.

On May 18, 2005, the company received notice from NASDAQ staff that the company's...

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Source: Gene Therapy Weekly (2005-06-23)

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