Acusphere threatened with Nasdaq delisting
Acusphere Tuesday received a letter from Nasdaq stating that the company does not comply with the minimum stockholders' equity requirement of $10 million for continued listing on the Nasdaq global market, based on its stockholders' equity reported in its quarterly report for the 2008 second quarter.
As a result, the company said its common stock will be subject to delisting from the Nasdaq global market unless it adequately addresses the deficiency at the company's hearing before the Nasdaq listing qualifications panel, scheduled for the first half of September.
Pursuant to the Nasdaq marketplace rules, the panel has the authority to grant the company up to an additional 180 days from the date of Nasdaq’s letter regarding the minimum bid price deficiency (i.e., Jan. 9, 2009), to implement its plan of compliance, according to Acusphere.
There is no assurance that the panel will grant Acusphere's request for continued listing on Nasdaq.
As a result, the company said its common stock will be subject to delisting from the Nasdaq global market unless it adequately addresses the deficiency at the company's hearing before the Nasdaq listing qualifications panel, scheduled for the first half of September.
Pursuant to the Nasdaq marketplace rules, the panel has the authority to grant the company up to an additional 180 days from the date of Nasdaq’s letter regarding the minimum bid price deficiency (i.e., Jan. 9, 2009), to implement its plan of compliance, according to Acusphere.
There is no assurance that the panel will grant Acusphere's request for continued listing on Nasdaq.