The New York Stock Exchange warned Interleukin Genetics Inc. (NYSE:ILI) that it faces de-listing from the exchange for running afoul of its equity and profitability requirements.
The Waltham, Mass.-based genetic test maker said it received a letter June 24 from NYSE regulators informing it that “the Exchange intends to initiate proceedings to delist the Company’s common stock” for posting stockholders’ equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.
Interleukin said it intends to request a appeal the possible de-listing, which means an automatic stay until the exchange reaches a decision on the company’s plan to regain its good graces.
Interleukin shares closed at 44 cents June 25.