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Biotech / Medical : Nuvelo (Nasdaq: NUVO)

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To: SemiBull who wrote (255)	1/30/2003 8:31:06 PM
From: SemiBull	Read Replies (1) of 286

Hyseq To Mull Reverse Stock Split For Nasdaq Compliance Wednesday January 29, 5:58 pm ET WASHINGTON (Dow Jones)--Hyseq Inc. said it will consider numerous alternatives, including a possible reverse stock split, to ensure compliance with the Nasdaq Stock Market's $1 minimum share price rule. Variagenics Inc. (NasdaqNM:VGNX - News) , which is merging with Hyseq, provided the information about Hyseq's discussion on reverse split in a Form 8-K filed Wednesday with the Securities and Exchange Commission. The filing said Hyseq management discussed the possibility of the reverse stock split during a recent stockholders' meeting. The filing said Hyseq hasn't yet received a noncompliance notification from Nasdaq about its share price. Hyseq shares closed Wednesday at 81 cents each, down 1 cent. Hyseq and Variagenics holders approved the merger of their companies at separate meetings Tuesday. The combined company will be named Nuvelo Inc. and is scheduled to begin trading under the Nasdaq symbol NUVO from Monday. Sunnyvale, Calif.-based Hyseq develops products and tests using DNA array technology. Variagenics, Cambridge, Mass., develops technologies for the discovery and commercialization of drugs and diagnostics based on the genetic differences among individuals. -By Christopher Scinta, Dow Jones Newswires; 202-628-7699; chris.scinta@dowjones.com

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