Enchira Biotechnology Corp. said the Nasdaq Listing Qualifications Panel declined the company's request for additional time to regain compliance with the Nasdaq SmallCap listing requirements.

The company's stock was delisted Tuesday. Enchira said it is attempting to begin trading on the Over-the-Counter Bulletin Board.

The move is one of several that marks the company's financial difficulties. It has recently laid off all employees except Paul Brown, who stays on as president, and Daniel Monticello, its chief technology officer, who were kept on board via contracts after Enchira's downsizing in May. The men are engaged in efforts to find merger or acquisition partners, as well as to seek additional funding. Their contracts expired and both decided to continue to work on a part-time basis.

The company also has sold extra laboratory and office equipment, and sold reports and intellectual property related to its discontinued biodesulfurization research. It re-negotiated and eliminated ongoing licensing payments, and it has collected accounts receivable, minimized its operating costs and made other capital-preservation moves.

Enchira is developing Anti-Cancer Ligand proteins that inhibit the activity of receptor tyrosine kinases implicated in some cancers.