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Introgen Therapeutics, Inc. (INGN) Receives Staff Determination Letter from Nasdaq Global Market
9/8/2008 9:13:06 AM
AUSTIN, Texas--(BUSINESS WIRE)--Introgen Therapeutics, Inc. (NASDAQ:INGN), a developer of targeted molecular therapies for cancer, today announced that on September 4, 2008, it received a letter from The Nasdaq Stock Market ("Nasdaq") indicating that it had not regained compliance with Marketplace Rule 4450(b)(1)(A), requiring a minimum $50 million market value of listed securities for continued inclusion on The Nasdaq Global Market. Introgen intends to request a hearing before the Nasdaq Listing Qualifications Panel (the “Panel”). The company expects the hearing to take place within four to eight weeks, and the Company’s shares will continue to be listed on The Nasdaq Global Market pending the outcome of the appeal. Alternatively, Introgen may apply to have its listing transferred to The Nasdaq Capital Market, provided that it satisfies the requirements for continued listing on that market at the time of transfer.
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