Verenium Corp (VRNM) Could Fall Off The NASDAQ

Verenium Corporation has been given a warning by NASDAQ.  The company is in violation of Marketplace Rule 4450 (b)(1)(A), which states that

Companies affiliated with NASDAQ Global Market must maintain a minimum market capitalisation of $50 million. As an alternative, a company may maintain total assets and total revenues of $50 million each for the most recently completed year (In this case 2007) or for two of the three most recent fiscal years.

Verenium has 30 days to bring itself into compliance with this rule, or risk getting kicked off the NASDAQ Exchange. If it can’t bring itself into compliance in 30 days, the company does have the option to appeal or to request that its stock be transferred to The NASDAQ Capital Market. In the meantime, it’s business as usual, and Verenium stocks are still being traded on the NASDAQ exchange.

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