Affymetrix to request hearing for Nasdaq non-compliance letter

By Elaine Rigoli

Tampa, Fla., Aug. 17 - Affymetrix, Inc. said it will request a hearing before the Nasdaq listing qualifications panel in response to the receipt of a Nasdaq staff determination letter indicating that Affymetrix is not in compliance with the filing requirements for continued listing.

The letter relates to the delayed filing of Affymetrix's 10-Q for the quarter ended June 30.

Pending a decision by the panel, Affymetrix shares will remain listed on the Nasdaq.

Affymetrix announced that as a result of its previously announced internal review into historical stock option granting practices, the company will restate its financial statements for certain options granted between 1997 and 1999.

Affymetrix said it expects to file restated financial statements for the affected periods with the Securities and Exchange Commission during the current quarter.

Santa Clara, Calif.-based Affymetrix is a molecular biology research company.

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