Marrone Bio Innovations Inc. is facing delisting by Nasdaq again, the latest headache for the Davis biotech company.
The company said Wednesday it’s been warned it could lose its Nasdaq listing because its stock market value has closed below the minimum $50 million for 30 straight trading days. The announcement came a week after it avoided delisting by naming a third board member to its audit committee, meeting Nasdaq requirements.
Marrone spent much of the past two years dealing with an internal probe into accounting irregularities.
Marrone shares closed Wednesday at 85 cents, down 5 cents. Its market capitalization, or value, has fallen to $20.8 million, according to Yahoo Finance.
Nasdaq has given Marrone until July 6 to regain compliance with the market capitalization standards.