Columbia Laboratories Receives Nasdaq Non-compliance Letter
Columbia Laboratories (NASDAQ: CBRX) received a
letter on October 24, 2012, from the Nasdaq Stock Market indicating that
the Company no longer meets the minimum bid price requirement for
continued listing on the Nasdaq Global Market as set forth in Nasdaq
Listing Rule 5450(a)(1) (the “Rule”). The notice stated that the bid
price of the Company's common stock has closed below the required
minimum $1.00 per share for the previous 30 consecutive business days.
The Nasdaq notice has no immediate effect on the listing of the
Company's common stock.
In accordance with Nasdaq rules, the Company has 180 calendar days to
regain compliance with the Rule. If at any time before April 23, 2013,