NASDAQ Warns It Could Delist Cyclacel
By Eric Bosco
December 15, 2009 5:47 PM
December 15, 2009 5:47 PM
Cyclacel Pharmaceuticals (NASDAQ: CYCC)(FREE stock trend analysis) said it received notice from the exchange stating that its shares face the prospect of delisting.
At issue is the company’s failure to comply with NASDAQ’s $10 million shareholder equity minimum requirement.
Cyclacel said it will request a hearing with the exchange in order to address these concerns.
CYCC shares dropped 12 cents to close at $1.24 in trading today. Despite that, the stock is above the midpoint in its one-year trading range.
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