Exact Sciences receives Nasdaq notice

Exact Sciences Corp., a Marlborough company trying to use genomics to develop cancer-screening technology, said today that its common stock will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, effective Friday.

The company said that the Nasdaq Listing Qualifications Panel is analyzing the company's plans for demonstrating compliance with the stock exchange's listing requirements and that "the panel may still determine to delist the company at any point in time."

To read the company's press release, please click here.

In July, Exact Sciences disclosed plans to cut operations in order to preserve cash while pursuing a possible sale or other strategic alternatives. The company said then that the cost-savings measures would extend its cash through at least the second quarter of 2009.
(By Chris Reidy, Globe staff)