Cyanotech achieves Nasdaq compliance |
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Fri, 16 Mar 2007 17:11
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KAILUA-KONA, Hawaii (AP) - Cyanotech Corporation, which makes algae-based nutritional products, said today it is in compliance with all Nasdaq Stock Market rules and will remain listed.Cyanotech received a compliance notice from the Nasdaq on March 14 after filing its delayed financial report for the quarter ending Dec. 31, 2006.The company fell out of compliance when it delayed filing several financial reports to correct errors involving inventory-related costs.Due to the delayed reports, Cyanotech was warned its stock could be delisted.Cyanotech shares rose 5 cents, or 3 percent, to $1.65 in morning trading. Shares have traded between 76 cents and $4.60 during the past 52 weeks.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Cyanotech receives European approval 