Icagen gets 180 days to regain Nasdaq compliance

By The Associated Press

Friday, November 13, 2009

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RESEARCH TRIANGLE PARK, N.C., (AP) — Biopharmaceutical company Icagen Inc. said Friday the Nasdaq Stock Market has given the company 180 calendar days to regain compliance with its minimum listing requirements.

The company said its stock has closed below $1 per share for the past 30 business days. To regain compliance, the company's common stock must close at or above $1 per share for at least 10 business days before May 11, 2010.

Company shares rose 3 cents, or 6.7 percent, to close at 48 cents on Friday.

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