The Nasdaq stock exchange has decided to delist shares of MRI contrast developer Epix Pharmaceuticals of Lexington, MA, from trading, effective May 14.
Epix said that the Nasdaq Listing Qualifications Panel issued the decision because the company failed to comply with a requirement to maintain a $35 million market value of listed shares for its common stock for 10 consecutive trading days or to regain compliance with one of the alternative listing criteria, including a shareholders' equity of at least $2.5 million.
Epix plans for its stock to be listed on the Over-the-Counter Bulletin Board, effective with the open of the market on May 14.
Related Reading
Epix to pursue strategic alternatives, May 12, 2009
Epix to complete tender offer, May 5, 2009
Epix works to avoid bankruptcy, April 9, 2009
Lantheus buys Epix's MS-325 rights, April 7, 2009
Epix gets 'going concern' notice, March 26, 2009
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