Marrone Bio Innovations Inc. said Friday it has been warned again that it might lose its Nasdaq listing.
The Davis biotech firm said it received a delisting letter from Nasdaq because of its failure to file fourth-quarter financial results. Marrone was already facing possible delisting because it hasn’t yet released results for the third quarter.
Marrone has until next Friday to submit a plan to Nasdaq for filing its late reports. If it is delisted, its shares would be traded on a less prominent market.
The company has been reeling since last fall, when it disclosed an audit problem involving $870,000 worth of revenue reported in 2013. Following an in-house investigation, Marrone said certain former employees misled the finance department about some sales transaction. The company said it will likely have to restate some previously reported earnings.
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Marrone shares closed Friday at $3.69, down 7 cents.
Call The Bee’s Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.