Low bid price threatens Nutrition 21 listing
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- January
- 2
Nutrition 21 Inc. stock may face delisting after the company received a letter from Nasdaq officials warning that the Purchase-based company’s low share price threatens its continued listing on the Nasdaq Capital Market.
Shares of Nutrition 21, a maker of nutritional supplements, ended today’s trading at 71 cents a share. The company’s stock last closed higher than a $1 a share on Nov. 8.
Nutrition 21 said today Nasdaq has granted the company 180 days, or until June 23, to regain compliance with minimum bid-price requirements. Additionally, the company may receive a 180-day extension to raise its bid price should it remain in compliance with all other listing requirements.
If Nutrition 21 fails to regain compliance with the minimum bid-price requirement, Nasdaq will notify the company that its stock will be delisted, Nutrition 21 said, adding that the company may appeal such a decision.
On Nov. 9, Nutrition 21 reported it lost $4.1 million, or 7 cents a share, in its fiscal first quarter, roughly on par with the loss it posted a year earlier.
This entry was posted
on Wednesday, January 2nd, 2008 at 5:27 pm by David Schepp.
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