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Nanogen Receives NASDAQ Delisting Notice

Fri. March 13, 2009; Posted: 05:20 PM
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Look up the PowerRating of NGEN and see how it has performed over the past week as well as the current proprietary PowerRating.

SAN DIEGO, Mar 13, 2009 (BUSINESS WIRE) -- NGEN | Quote | Chart | News | PowerRating -- Nanogen, Inc. (Nasdaq: NGEN), developer of in vitro diagnostic products, announced that on March 12, 2009 the company received a Staff Determination letter from NASDAQ (the "Delisting Notice") indicating that the Company is subject to delisting proceedings due to non-payment of certain outstanding fees as required for continuing listing set forth in NASDAQ's Marketplace Rule 4310(c)(13). If the Company elects not to appeal the Delisting Notice, the trading of the Company's common stock will be suspended at the opening of business on March 23, 2009, and a Form25-NSE will be filed with the SEC which will remove the Company's common stock from listing and registration on The NASDAQ Stock Market. The Company currently does not plan to file an appeal for the Delisting Notice. Nanogen has filed a Form 8-K with the SEC with additional details about the company's listing status.

About Nanogen, Inc.

Nanogen's in vitro diagnostic products provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents and a line of rapid, point-of-care diagnostic tests. For additional information please visit Nanogen's website at www.nanogen.com.

Cautionary Statement: This press release contains forward-looking statements based on the company's current expectations. These forward-looking statements include, without limitation, references to the company's performance and strategic transactions. Actual results may differ materially from these forward-looking statements due to a number of factors and, consequently, you should not rely on such forward looking statement as prediction of future event. These factors include, but are not limited to, the company's available cash resource and ability of the company to pay its trade obligations, the willingness of vendor to continue supplying services and materials to the company, the occurrence of defaults under the company's convertible notes and other obligations, and other risks and uncertainties discussed under the caption "Risk Factors" in the company's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

SOURCE: Nanogen, Inc.

Nanogen, Inc. 
Nick Venuto 
Chief Financial Officer 
858-410-4600
For full details for NGEN click here.

    


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