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Avalon Pharmaceuticals (AVRX) Receives NASDAQ Deficiency Notice


11/25/2008 1:01:28 PM

GERMANTOWN, Md.--(BUSINESS WIRE)--Avalon Pharmaceuticals, Inc. (Nasdaq:AVRX), today announced that on November 20, 2008 it received a Deficiency Notice from The NASDAQ Stock Market, LLC notifying the Company that it is not in compliance with NASDAQ Marketplace Rule 4450(a)(3) because the Company’s stockholders’ equity, as reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2008, did not meet the minimum of $10 million required for continued listing on The NASDAQ Global Market. This notification has no immediate effect on the NASDAQ listing or trading of the Company’s common stock.

Read at BioSpace.com

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