Marrone Bio gets Nasdaq hearing on stock listing

Marrone Bio Innovations Inc., struggling to keep its Nasdaq stock listing, said this week it will appear at a hearing before the exchange’s Listing Qualifications Panel next month.

The Davis biotech company has been threatened with delisting because of repeated failures to report quarterly earnings.

While the hearing is set for June 18, the company said Nasdaq has the right to suspend Marrone Bio’s shares May 28.

Marrone Bio hasn’t released earnings since the second quarter of last year. The problem stems from the disclosure last year of an internal auditing problem in which some former employees misled management about certain sales transactions.

As a result, Marrone Bio has said it will probably have to amend some of its earlier financial statements.

Marrone Bio closed at $2.36, down 60 cents, in Nasdaq trading Tuesday.

Dale Kasler

This story was originally published May 19, 2015 at 8:42 AM with the headline "Marrone Bio gets Nasdaq hearing on stock listing."