10/3/2008 10:26:44 AM
PRINCETON, N.J., Oct. 3, 2008 (GLOBE NEWSWIRE) -- Pharmacopeia (Nasdaq:PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced it received a notice on September 30, 2008 from The Nasdaq Stock Market indicating that the company is not in compliance with the continued listing requirements of The Nasdaq Global Market under Nasdaq Marketplace Rule 4450(b)(1)(A). The company received this notice because the market value of its listed securities was below $50 million for 10 consecutive trading days. The notice further states that the company is not in compliance with the alternative test under Nasdaq Marketplace Rule 4450(b)(1)(B), which requires total assets and total revenue of $50 million each for the most recently completed fiscal year or two of the last three most recently completed fiscal years. This notification has no immediate effect on the listing of the company's common stock on The Nasdaq Global Market.
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