Pharmaceutical firm Cytogen has been notified by the Nasdaq Stock Market that for more than 30 consecutive trading days, its common stock has closed below the minimum $1 per share required for continued listing on the Nasdaq National Market. In accordance with Nasdaq rules, the Princeton, NJ-based vendor has 90 calendar days (until November 12) to regain compliance with Nasdaq listing requirements.
If Cytogen's stock does not close at $1 per share or more for a minimum of 10 consecutive trading days by that date, the firm's stock will be subject to delisting. Cytogen president and CEO Joseph Reiser said that the company will consider all available options to regain full compliance with Nasdaq listing requirements.
By AuntMinnie.com staff writers
August 15, 2002
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