IRVINE, Calif., Aug. 21, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company specializing in DNA-based testing services for developmental disorders and cancer diagnostics, today announced that in a letter dated August 20, 2013, from the Director of Listing Qualifications of The Nasdaq Stock Market LLC, the Company was informed that it has regained compliance with Listing Rule 5550(b)(1) (the Rule), which requires a minimum of $2.5 million stockholders' equity for The Nasdaq Capital Market.
The letter from Nasdaq said that based on the Company's Form 10-Q for the period ended June 30, 2013, which evidenced stockholders' equity of $5.7 million, the Nasdaq Staff has determined that CombiMatrix complies with the Rule and "the matter is now closed."
There can be no assurance, however, that the Company will be able to maintain compliance long-term with Nasdaq requirements for continued listing.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support for the highest quality of care – specializing in miscarriage analysis, prenatal and pediatric healthcare. CombiMatrix offers comprehensive testing services for the detection of genetic abnormalities at the DNA level, beyond what can be identified through traditional methodologies. The Company performs genetic testing utilizing advanced technologies, including microarray, FISH, PCR and G-Band chromosome analyses. Additional information about CombiMatrix is available at www.combimatrix.com or by calling 1-800-710-0624.
CONTACT: Company Contact: Mark McDonough President & CEO, CombiMatrix Corporation Tel (949) 753-0624 Media Contact: Len Hall VP, Media Relations Allen & Caron Tel (949) 474-4300 firstname.lastname@example.org Investor Relations Contact: John Baldissera BPC Financial Marketing Tel (800) 368-1217