Since there's a paywall here is the text:<p>The bad news keeps coming for Ginkgo Bioworks.<p>Four days after it announced it was slashing labor costs by at least 25 percent, the once-high-flying Boston life sciences firm said it had received a notice from the New York Stock Exchange threatening to delist it because Ginkgo’s average closing price was less than $1 per share over 30 consecutive days of trading.<p>The cell programming and biosecurity company said it will notify the exchange within 10 business days of how it plans to respond to the notice. Exchange rules give Ginkgo six months to bring its stock price up.<p>“The Company intends to regain compliance with [the] NYSE’s continued listing standards and is considering all available options to do so,” the firm said in a news release.<p>Founded in 2008 by five scientists from MIT, Ginkgo was once one of the hottest venture-backed startups in Boston. In 2019, two years before the firm went public, it was valued at about $4.8 billion, according to PitchBook, a Seattle company that analyzes and sells data on the private markets.<p>But Ginkgo has struggled since then and its earnings report last week was abysmal. Total revenue in the first quarter of 2024 was $38 million, down from $81 million for the same period last year, a decrease of 53 percent, according to the company.<p>The firm also lowered its predicted full-year revenue to a range of $170 million to $190 million, down about 20 percent from its previously predicted range of $215 million to $235 million.<p>Jason Kelly, Ginkgo’s cofounder and chief executive, said he intended to take “decisive action” and cut labor costs. The firm declined to say how many layoffs it planned to make. Ginkgo had 1,218 employees at the end of last year, according to filings with the US Securities and Exchange Commission.<p>Ginkgo originally started as a synthetic biology business in 2008. In recent years, it has tried to expand its biosecurity business, which got started during the COVID pandemic, into monitoring wastewater for pathogens. Ginkgo became publicly traded in 2021 after merging with a special purpose acquisition company.