NeurogesX Receives Determination Letter From NASDAQ; Not Regaining Compliance
NeurogesX, Inc. (Nasdaq: NGSX) today announced that it received a determination letter from the Staff of The NASDAQ Stock Market LLC on April 17, 2012, indicating that it has not regained compliance with NASDAQ Listing Rule 5450(b)(2)(A), 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, 2012, to request a hearing.
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