Cyanotech Corp., a Kona-based producer of health dietary supplements from microalgae, disclosed Monday that it received a a delisting notice May 2 from Nasdaq notifying the company that for the previous 30 consecutive business days its stock price had closed below the minimum $1-per-share requirement for continued listing on the Nasdaq.

The company’s stock price closed Monday up $.005 at 97.5 cents.

Nasdaq says Cyanotech has an initial period of 180 calendar days from the date of the notice, or until Oct. 30, to regain compliance with the bid price rule. If, at any time before the compliance date, the bid price for the company’s common stock closes at $1 or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification to the company that it has regained listing compliance.

If Cyanotech is not in compliance by the compliance date, Cyanotech could qualify for a second 180-calendar-day compliance period. If the company does not qualify for or fails to regain compliance during the second compliance period, then Nasdaq will provide written notification to the company that its common stock will be subject to delisting.

Ward Village developer loses $22.7M

Houston-based Howard Hughes Corp., which is the developer of Ward Village, reported Monday it swung to a loss of $22.7 million, or a loss of 46 cents a share, in the first quarter, from a profit of $2.1 million, or 4 cents a share, a year ago.

Revenue fell 6.6% to $196.3 million from $210.2 million a year earlier.