Idera Pharmaceuticals Receives Nasdaq Listing Notice
Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) today announced that it has received notice from the Nasdaq Listing Qualifications staff of the Nasdaq Stock Market that Idera is not in compliance with the minimum market value requirement for continued listing on The Nasdaq Global Market (the “MVLS requirement”) because the aggregate market value of Idera's common stock was below $50 million for 30 consecutive business days (pursuant to Listing Rule 5450(b)(2)(A)).
The notification has no impact at this time on the listing of Idera's common stock on The Nasdaq Stock Market and Idera's common stock will continue to trade on The Nasdaq Global Market under the symbol "IDRA". The Company has been provided a period of 180 calendar days, or until December 4, 2012, to regain compliance with the MVLS requirement. Idera can regain compliance if the aggregate market value of Idera's common stock closes at $50 million or higher for a minimum of 10 consecutive business days at any time prior to December 4, 2012.
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