Iceland's Decode says will avoid Nasdaq delisting

LONDON (Reuters) - Iceland's Decode Genetics is working on refinancing and the biotech company does not expect to be delisted from the Nasdaq stock exchange for its financial woes, its chief executive said on Friday.

Earlier this week Decode said it had received a delisting notice from Nasdaq giving the company 30 days to comply with the exchange's rules requiring the market value of the company's common stock to be above $50 million (29.4 million pounds).

"We are working on refinancing the company," Kari Stefansson told Reuters in a telephone inteview. "I'm convinced we will pull ourselves out of this hole. It is very unlikely we will get delisted."

(Reporting by Michael Kahn; Editing by Ben Hirschler)