Icagen, Inc. Regains Compliance With Nasdaq Listing Requirements

RESEARCH TRIANGLE PARK, N.C., Oct. 11, 2010 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGND) today announced that it has regained compliance with the Nasdaq Global Market's $1.00 minimum bid price requirement. On October 7, 2010, the Company received notification from the Nasdaq Listing Qualifications Department that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) after maintaining a closing bid price equal to or in excess of $1.00 for a minimum of ten consecutive trading days and that the Company's non-compliance with the requirement announced on November 13, 2009, has been rectified.