Icelandic biotech feels the pinch.

The article reports on the effect of the economic crisis from the U.S. markets on the condition of deCode Genetics Inc. in Iceland. It states that the stock price of the pharmaceutical company has plunged 54% since September 2008 due to the investment decisions made by its bankers. On the lighter note, the firm has been identified three new schizophrenia-associated mutations and it has filed an application with the U.S. Food and Drug Administration to begin human tests for the drug. However, the crisis felt by the U.S. pulled down the company and if does not regain for a period of ten consecutive business days before October 30, 2008, it will be delisted and lose access to National Association of Securities Dealers Automated Quotations (NASDAQ) investors.