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ProPhase Labs director resigns; company out of Nasdaq compliance

ProPhase Labs Inc. said the company is not in compliance with the Nasdaq listing rules following the resignation of Mark Burnett from its board.

The Doylestown, Pa.-based pharmaceutical company now has two independent directors on its board, one less than the minimum required by Nasdaq listing rules.

ProPhase Labs said it will start searching for an independent director to regain compliance with the Nasdaq listing requirements.