Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

NeurogesX Receives Letter From Nasdaq For Non-Compliance With Listing Rule

Specialty pharmaceutical company NeurogesX Inc. (NGSX: Quote) said Friday it received a determination letter from the NASDAQ Stock Market LLC indicating that it has not regained compliance with a NASDAQ Listing Rule which requires companies to maintain a minimum market capitalization of $50 million for continued listing.

The letter states that unless the company requests a hearing before a NASDAQ Listing Qualifications Panel, trading in the company's stock on The NASDAQ Global Market will be suspended on April 26, 2012. The Company has until April 24 to request a hearing.

The company said it plans to request a hearing before the Panel, at which it will seek continued listing pending its return to compliance with the listing requirements on either The NASDAQ Global Market or The NASDAQ Capital Market.

Pursuant to the NASDAQ Listing Rules, the Nasdaq Panel has the discretion to grant up to an additional 180 day period for the cCompany to regain compliance.

As a result of the hearing request, any delisting or suspension action will be stayed until the conclusion of the hearing process and the expiration of any extension granted by the Panel. However, the company said there can be no assurance that the Panel will grant its request for continued listing.

Register
To receive FREE breaking news email alerts for NeurogesX Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hewlett-Packard has recalled the AC power cords for its HP and Compaq notebook computer, citing a tendency to overheat, causing a potential fire and burn hazard. HP requests that consumers stop using the cord immediately and contact them to order a replacement cord free of charge. A UN report describing terrible atrocities carried out by Islamic State militants in Syria says children as young as 10 are being recruited and trained at ISIS camps as fighters. The report, based on 480 interviews and and evidence collected between 20 January and 15 July, chronicles the unimaginable brutality and human cost of the Syrian conflict. The report by the independent international com Poverty in Latin America and the Caribbean has been reduced by almost half in the last decade, and the middle class grew by 82 million people, from 21 percent of the population in 2000 to 34 percent in 2012, according to new data released by the United Nations Development Program (UNDP). UNDP's analysis, based on data from the Center for Distributive, Labor and Social Studies (CEDLAS), highlights
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.