Aradigm warned on listing by Nasdaq

New York, May 24 - Aradigm Corp. reported it received a warning from Nasdaq that it has failed to comply with listing rules requiring it to maintain a minimum market value or shareholders' equity or to meet certain net income levels.

In order to return to compliance, the company must meet a minimum market value of $35 million during the next 30 days.

If Aradigm does not achieve this standard by June 19, it will be delisted, although it could appeal to the Nasdaq Listing Qualifications Panel, which would delay delisting.

Aradigm is a Hayward, Calif., company developing non-invasive delivery systems to enable patients to comfortably self-administer biopharmaceuticals and small molecules.

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