Techniclone Hires Investment Banking Firm

Techniclone Corp., concerned that its stock may be delisted for failing to meet the $1-per-share minimum requirement on the Nasdaq SmallCap market, said it hired an investment banking firm.

The firm will help the company seek financing alternatives, potential partnerships and other arrangements aimed at raising its stock price.

Ironically, the company’s stock closed at $1 a share Thursday for the first time since Jan. 30. The shares were up 28 cents for the day.

The company researches and develops therapeutics to treat cancer.