Zila (Phoenix) said that, as a result of suspicious end-of-day trading in the company's stock during the past several weeks, the company has made an urgent request that Nasdaq undertake an investigation to determine the reasons for this activity.
Zila is a diagnostic company specializing in the treatment of oral cancer and periodontal disease. Zila makes ViziLite Plus with TBlue, the company's flagship product for the early detection of oral abnormalities that could lead to cancer.
deCODE genetics gets Nasdaq listing notice
deCODE Genetics (Reykjavik, Iceland) said that on Sept. 30 it received a notice from the Nasdaq Stock Market stating that for 10 consecutive trading days the market value of deCODE's common stock had been below $50 million, the minimum level required for continued listing on the Nasdaq Global Market as set forth in Nasdaq Marketplace Rule 4450(b)(1)(A). The notice further stated that deCODE also does not comply with an alternative test set forth in Nasdaq Marketplace Rule 4450(b)(1)(B), which requires total assets and total revenue of $50 million each for the most recently completed fiscal year or two of the last three most recently completed fiscal years.
In accordance with Nasdaq Marketplace Rule 4450(e)(4), deCODE will be provided a period of 30 calendar days, or until Oct. 30, to regain compliance. If at any time before Oct. 30 the market value of deCODE's common stock is $50 million or more for a minimum of 10 consecutive business days, the Nasdaq staff will determine if deCODE complies with Marketplace Rule 4450(b)(1)(A).
deCODE is a biopharmaceutical company applying its discoveries in human genetics to the development of diagnostics and drugs for common diseases.
Volcano relocates to San Diego
Volcano, a maker of products for the diagnosis and treatment of coronary and peripheral artery disease, reported the relocation of its corporate headquarters from Rancho Cordova to San Diego.
The new corporate headquarters is located in the Carmel Valley area of San Diego and now houses corporate executives, marketing, finance, accounting, corporate human resources, legal and catheter engineering. The company said it intends to expand its operations in San Diego in the future.
The company's core research and development, manufacturing, operations, quality and local human resources functions will remain in Volcano's facilities in Rancho Cordova.
Lokey gives stem cell donation to Stanford
Lorry Lokey, the Business Wire founder and philanthropist, is giving $75 million to the Stanford University School of Medicine (Stanford, California) to help build what is expected to be the nation's largest center for stem cell research.
Lokey's gift will help give rise to a 200,000-square-foot facility that will be known as the Lorry I. Lokey Stem Cell Research Building. The four-story building along Campus Drive will house 350 scientists working together to capture the power of these cells in treating diseases as diverse as cancer, diabetes and heart disease. The school plans to complete the building by the summer of 2010.
"Stem cells are going to be as significant as the silicon chip that created Silicon Valley," said Lokey, who made an initial commitment to the new building in February 2007. "Stem cells are going to introduce an entirely new field of medicine for extending lives and improving the quality of life."
His gift is the largest to the medical school from a private individual and one of the largest capital gifts to Stanford.