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Callisto Pharmaceuticals Receives Notice of Delisting From AMEX - Subject to Appeal


4/14/2008 9:26:24 AM

NEW YORK--(BUSINESS WIRE)--Callisto Pharmaceuticals, Inc. (AMEX: KAL), announced today that on April 7, 2008, it received notice from the American Stock Exchange indicating that AMEX intends to strike the Company’s common stock from listing on AMEX by filing a delisting application with the Securities and Exchange Commission. In its letter, AMEX stated that it has determined that the Company has failed to comply with continued listing standards set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the AMEX Company Guide, respectively, which state, in relevant part, that AMEX will normally consider suspending dealings in, or removing from the list, securities of a company which (a) has stockholders' equity of less than $2,000,000 if such company has sustained losses from continuing operations and/or net losses in two of its three most recent fiscal years; (b) has stockholders' equity of less than $4,000,000 if such company has sustained losses from continuing operations and/or net losses in three of its four most recent fiscal years; or (c) has stockholders' equity of less than $6,000,000 if such company has sustained losses from continuing operations and/or net losses in its five most recent fiscal years, respectively.

Read at BioSpace.com

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