Transgenomic reclaims compliance with Nasdaq listing standards

By Jennifer Chiou

New York, Sept. 19 - Transgenomic Inc. announced it regained compliance with the Nasdaq National Market's requirement for a $1.00 minimum bid price.

The company will continue listing under the symbol "TBIO."

"We've placed a renewed focus on our BioSystems business, which in our view offers the best mix of current and future opportunities going forward," chief executive officer Collin D'Silva said in a news release, noting the company's recent realigning of its business.

"This strategic change is reflected in the improved financial results in the first two quarters of 2005 for Transgenomic, including our historic best quarterly operating performance in the second quarter."

In March, Nasdaq notified the company it was not in compliance with its rule and was subject to delisting. Transgenomic had until Sept. 27 to regain compliance with its stock closing at or above $1.00 for 10 consecutive business days.

Transgenomic is an Omaha, Neb., provider of products for the synthesis, purification and analysis of nucleic acids.

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