VACAVILLE, California, Dec. 21 /PRNewswire-FirstCall/ -- On December 15, 2005, Large Scale Biology Corporation received notice from the staff of Nasdaq that, pursuant to the June 16, 2005 notice from the Nasdaq staff, the Company has not regained compliance with Marketplace Rule 4450(a)(5), which requires a minimum bid price of $1.00 per share for the Company’s common stock for a minimum of ten consecutive business days prior to December 13, 2005. In addition, the Company does not qualify for an additional 180 calendar day compliance period because it does not meet the Capital Market initial inclusion criteria set forth in Marketplace Rule 4310(c). Further, the Company does not comply with Marketplace Rule 4310(c)(2)(B), which requires the Company to have a minimum of $2,500,000 in stockholders’ equity or $35,000,000 market value of listed securities or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years.
Therefore, the Company’s securities are subject to delisting from The Nasdaq Capital Market effective at the opening of business on December 27, 2005. The Company may appeal the decision to a Nasdaq Listing Qualifications Panel.
About Large Scale Biology Corporation
Large Scale Biology Corporation uses its proprietary gene expression, molecular engineering and bioprocessing technologies to develop and manufacture therapeutic and industrial proteins, vaccines and diagnostic products for effective characterization and treatment of disease. Corporate offices, R&D laboratories and Predictive Diagnostics, Inc. are headquartered in Vacaville, California, and the Company’s commercial-scale biomanufacturing facility is located in Owensboro, Kentucky. For more information about Large Scale Biology Corporation, visit the Company’s website at www.lsbc.com.
NOTE: LSBC(TM) is a trademark of Large Scale Biology Corporation. Contact: Large Scale Biology Corporation 707-446-5501 Ronald J. Artale, Chief Operating Officer and Chief Financial Officer 707-446-5501, x320
Large Scale Biology
CONTACT: Ronald J. Artale, Chief Operating Officer and Chief FinancialOfficer of Large Scale Biology Corporation, +1-707-446-5501, ext. 320
Web site: http://www.lsbc.com/
