8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 22, 2008

GENELABS TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

California	0-19222	94-3010150
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

505 Penobscot Drive, Redwood City, California	94063
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (650) 369-9500

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 3.01   NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.

On April 22, 2008, Genelabs Technologies, Inc. (the “Company”) received a letter from the Nasdaq Stock Market (the “Notice”) notifying the Company that for the 30 consecutive trading days preceding the date of the Notice, the bid price of the Company’s common stock had closed below the $1.00 per share minimum required for continued listing under Nasdaq Marketplace Rule 4310(c)(4). The Notice also stated that pursuant to Nasdaq Marketplace Rule 4310(c)(8)(D), the Company has been provided 180 calendar days, or until October 20, 2008, to regain compliance. To do so, the bid price of the Company’s common stock must close at or above $1.00 per share for a minimum of ten consecutive trading days prior to that date.

If compliance with the minimum bid requirement cannot be demonstrated by October 20, 2008, the Nasdaq Capital Market will determine whether the Company meets the other initial listing criteria as set forth in Marketplace Rule 4310(c). If the Company meets the other initial listing criteria, it will be notified that it has been granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, the Nasdaq Capital Market will provide written notification that the Company’s securities will be delisted.

The Company intends to monitor the bid price for its common stock between now and October 20, 2008, and consider various options available to the Company if its common stock does not trade at a level that is likely to regain compliance.

Item 9.01.   Financial Statements and Exhibits

(d) Exhibits

Exhibit
Number	Description
99.01	Press Release of Genelabs Technologies, Inc., dated April 24, 2008

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

GENELABS TECHNOLOGIES, INC.
By:	/s/ Frederick W. Driscoll
Name:		Frederick W. Driscoll
Title:		Chief Financial Officer

Date: April 24, 2008

EXHIBIT INDEX

Exhibit
Number	Description
99.01	Press Release of Genelabs Technologies, Inc., dated April 24, 2008

EX-99.1

Exhibit 99.01

Contact:	Frederick Driscoll
	Chief Financial Officer
	650-562-1477

Genelabs Technologies, Inc. Receives Notification from NASDAQ Regarding Non-Compliance with NASDAQ’s Minimum Closing Bid Price Rule

REDWOOD CITY, Calif. — April 24, 2008 — Genelabs Technologies, Inc. (Nasdaq:GNLB), announced today that on April 22, 2008, it received a letter from the NASDAQ Stock Market’s Listing Qualifications Department providing notification that, for the last 30 consecutive business days, the bid price of the company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion on the NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 4310(c)(4).

The notification has no immediate effect on the listing of Genelabs’ common stock on the NASDAQ Capital Market. The company’s common stock continues to trade on the NASDAQ Capital Market under the symbol GNLB.

The notification letter states that Genelabs has 180 calendar days, or until October 20, 2008, to regain compliance with the minimum closing bid price requirement. If at any time before October 20, 2008, the bid price of Genelabs stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that the company has achieved compliance with NASDAQ Marketplace Rule 4310(c)(8)(D).

If compliance with the minimum bid requirement cannot be demonstrated by October 20, 2008, the Nasdaq Capital Market will determine whether Genelabs meets the other initial listing criteria as set forth in Marketplace Rule 4310(c). If Genelabs meets the other initial listing criteria, it will be notified that it has been granted an additional 180 calendar day compliance period. If the company is not eligible for an additional compliance period, the Nasdaq Capital Market will provide written notification that the company’s securities will be delisted.

About Genelabs Technologies
Genelabs is a biopharmaceutical company focused on the discovery and development of novel compounds for infectious diseases. In addition to a late-stage vaccine candidate for hepatitis E virus partnered with GlaxoSmithKline, the company is advancing multiple partnered and proprietary compounds designed to selectively inhibit replication of the hepatitis C virus. For more information, please visit www.genelabs.com.

Forward Looking Statements

Statements in this press release about whether or when NASDAQ will provide notice that the company has achieved compliance with NASDAQ Marketplace rules, or grant an additional extension, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks related to: events or developments affecting the company’s share price; the company’s potential inability to maintain compliance with other listing requirements between now and October 20, 2008; the risk that NASDAQ exercises its discretion to require that the company maintain a bid price of at least $1.00 per share for a period in excess of 10 days; and other important risks relating to the company’s business, prospects, financial condition and results of operations that are discussed in the Section titled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2007, which has been filed with the SEC.

-end-