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EpiCept shares inch up following news of delisting notice


Shares of EpiCept Corp. were higher by a penny a share in afternoon trading today, at 48 cents a share, after reaching a 52-week low of 44 cents a share Friday, following news that the company’s shares face renewed scrutiny by Nasdaq officials.

The Eastview-based biotechnology company said Friday it was notified two days prior that it hadn’t yet regained compliance with a regulation that requires the company’s shares to maintain a market value of $35 million for 10 consecutive trading days.

Last month, Nasdaq officials gave EpiCept until May 5 to regain compliance with the listing requirement.
With last week’s news, EpiCept said it plans to seek a hearing with Nasdaq officials.

EpiCept shares also face delisting for failing to maintain a minimum $1 a share bid price, Nasdaq officials warned the company last month. The company. which is developing treatments for pain and cancer, has until Oct. 13 to regain compliance with minimum-bid price rules.

In the event the company’s shares are delisted, EpiCept said, they may be eligible to trade on the over-the-counter market, an informal method for trading stocks.

This entry was posted on Monday, May 12th, 2008 at 1:18 pm by David Schepp. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Delisting, Nasdaq, Over-the-counter market, Regulatory agencies, Stocks



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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.


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