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.
Marrone shares closed Friday at $3.69, down 7 cents.
Call The Bee’s Dale Kasler, (916) 321-1066. Follow him on Twitter @dakasler.