MBI requests hearing over NASDAQ listing status

The US biopesticide company Marrone Bio Innovations Inc. requests a hearing before the NASDAQ Listing Qualifications Panel regarding its status on the stock exchange. In addition to other factors affecting its listing status, Marrone announced that it does not expect to file its quarterly report on time, resulting “in further noncompliance with the NASDAQ Listing Rule.”

According to a statement by Marrone Bio Innovations: “The Company intends to timely request a hearing before the Panel, at which hearing the Company will present its plan to evidence compliance with NASDAQ’s filing requirement and request an extension within which to do so.”

In accordance with the NASDAQ Listing Rules, the panel has the authority to continue the company’s listing on NASDAQ pursuant to an exception to the filing requirement through as late as Nov. 2, 2015. The company’s common stock will continue to trade on the NASDAQ Global Market under the symbol ‘MBII’ pending the completion of the hearing process and the expiration of any extension period granted by the panel.