Ultrasound contrast developer Acusphere has received a warning letter from the Nasdaq Stock Market regarding its listing on the exchange, according to the Watertown, MA-based firm.
The July 14 letter states that Acusphere has not regained compliance with the exchange's minimum bid price of $1.00 per share as a requirement for continued listing. Unless the company requests a hearing before the Nasdaq Listing Qualifications Panel, it will be subject to delisting from the exchange's Global Market.
Acusphere plans to request a hearing, which it expects to be scheduled for late August or early September of this year. The company will request continued listing on either the Nasdaq Global Market or the Nasdaq Capital Market, based on its plan for demonstrating compliance with the applicable listing requirements. Nasdaq's Listing Qualifications Panel has the authority to grant Acusphere up to an additional 180 days from the date of the letter to comply with its standards, according to Acusphere.
Related Reading
FDA to review Acusphere's Imagify, July 1, 2008
Acusphere revenues flat for Q1 2008, May 9, 2008
Acusphere submits NDA for Imagify, April 29, 2008
Acusphere cuts annual net loss, March 17, 2008
Acusphere gets Nasdaq warning letter, January 14, 2008
Copyright © 2008 AuntMinnie.com
