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SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Ciphergen Biosystems, Inc. (NASDAQ:CIPH) today announced that it has received notification from the staff of the Nasdaq Stock Market indicating that the Company is not in compliance with Nasdaq Marketplace Rule 4310(c)(14) because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2006 with the Securities and Exchange Commission. The Nasdaq staff has determined to delist the Company’s securities from the Nasdaq SmallCap Market. The delisting will be effective at the opening of business on August 11, 2006. The Company’s common stock will be eligible for trading on the OTC Bulletin Board or in the Pink Sheets. In accordance with Nasdaq Marketplace Rule 4310(c)(8), the Company has requested a hearing before a Nasdaq Listing Qualifications Panel. The panel will consider the Company’s request for continued listing on the Nasdaq SmallCap Market. The Company has also requested that the Panel permit the Company to remain listed on the Nasdaq SmallCap Market pending the Panel’s decision. The Panel will consider the Company’s request for continued listing at a hearing to be held on August 10, 2006. There can be no assurance that the Panel will grant the Company’s request. The Company is unable to file the Quarterly Report on Form 10-Q for the period ended June 30, 2006 due to the fact that the Company’s independent registered public accounting firm, BDO Seidman LLP, has not completed the audit of the Company’s financial statements for the fiscal year ended December 31, 2005. About Ciphergen Ciphergen Biosystems, Inc. specializes in the development and commercialization of protein-based diagnostic products for the clinical and pharmaceutical discovery markets. Ciphergen’s proprietary technology platform, SELDI® ProteinChip® Technology, enables the rapid, reproducible and cost effective analysis of proteins. Ciphergen has developed a portfolio of ProteinChip Systems, surface chemistries, and bioinformatics software that allow the detection and analysis of proteins in the research and clinical diagnostic markets. This press release contains forward-looking statements that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including the risk that the Company may not be able to maintain its listing on the Nasdaq SmallCap Market or any other Exchange or quotation system. There can be no assurance that further financing will be available to the Company on satisfactory terms, or at all. These risks and uncertainties are further described in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements are based upon information available to Ciphergen on the date the statements are first published. Ciphergen takes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Ciphergen and SELDI are registered trademarks of Ciphergen Biosystems, Inc. ProteinChip is a trademark of Ciphergen Biosystems, Inc.