Vermillion delisted from Nasdaq

Vermillion (Fremont, California) a molecular diagnostics company, reported that it has received notification from the Nasdaq that the Nasdaq Listing Qualifications Panel has determined to delist the company's securities, effective as of the open of business on Sept. 25. The delisting is the result of the company's noncompliance with the minimum stockholders equity requirement for continued listing, as set forth in Marketplace Rule 4310(c)(3).

The company has been advised that its securities are immediately eligible for quotation in the Pink Sheets, an electronic quotation service for securities traded over-the-counter. The shares will continue to trade under the symbol VRML.

In addition, the company has been advised that a Market Maker is filing the necessary application with the Financial Industry Regulatory Authority to quote the securities and as a result it anticipates being quoted on the Over-the-Counter Bulletin Board.

Vermillion develops diagnostic tests.

Cyberonics searches for VNS partner

Cyberonics (Houston) said it has completed a comprehensive process with respect to an effort to identify a partner for the depression indication related to the company's Vagus Nerve Stimulation (VNS) therapy system.

Cyberonics reported in February a plan to identify a partner to assist with the activities required to obtain broad reimbursement coverage for the depression indication, including completion of the post-market studies mandated by the FDA in order to maintain approval of VNS Therapy for depression and the initiation of a new randomized clinical trial. The process undertaken over the last six months has not resulted in the receipt of an offer that provides sufficient value to the company's shareholders.

Accordingly, Cyberonics is evaluating alternative actions intended to maintain the current regulatory approval, while minimizing the company's required investment, as well as ensuring that this valuable treatment continues to be available to patients in the U.S. and certain international markets.

Cyberonics specializes in core expertise in neuromodulation.

PLC receives AMEX notification

PLC Systems (Franklin, Massachusetts) said it received a notice of failure to meet listing qualifications dated Sept. 17 from the Listing Qualifications Department at the American Stock Exchange. The notice stated that the company was not in compliance with Section 1003(a)(ii) of the AMEX company guide because the company's shareholders' equity was less than $4 million as of June 30, and it incurred losses from continuing operations and net losses in three out of its four most recent fiscal years.

PLC has been granted until Oct. 17 to submit a plan to the exchange that demonstrates the company's ability to regain compliance with listing standards by March 17, 2010. If the company does not submit a plan or if the plan is not accepted by AMEX, the company will be subject to delisting procedures.

PLC Systems specializes in technologies for the cardiac and vascular markets.

Roche selects Quidel flu test for FluSTAR

Quidel (San Diego), a provider of rapid point-of-care (POC) diagnostic tests, said that the QuickVue brand Influenza A+B test is the rapid flu test selected by Roche by more than 400 physician offices participating in the FluSTAR surveillance program during the 2008-09 flu season.

FluSTAR is a comprehensive influenza surveillance network sponsored since 1999 by Roche and developed by SDI to provide healthcare professionals and the public with the most up-to-date information on the spread of flu during the influenza season. Data obtained through influenza reporting is communicated to consumers and healthcare providers via www.FluSTAR.com.

LCA-Vision opens Fla, N.C. centers

LCA-Vision (Cincinnati), a provider of laser vision correction services under the LasikPlus brand, reported the relocation of two LasikPlus vision centers.

The new Raleigh, North Carolina, LasikPlus vision center began operations on Sept. 22 and is located at 4035 Lake Boone Trail.

The new Orlando, Florida LasikPlus vision center will begin operations on Oct. 6, and is located in the Uptown Altamonte Shopping Center at 150 Cranes Roost Road in Altamonte Springs.