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Genitope Corporation (GTOP) Announces Receipt of Nasdaq Determination


5/28/2008 11:01:38 AM

FREMONT, Calif.--(BUSINESS WIRE)--Genitope Corporation (NASDAQ:GTOP) today announced that, on May 21, 2008, it received a staff determination letter from The Nasdaq Stock Market (“Nasdaq”) indicating that, as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, Genitope no longer complied with Nasdaq’s filing requirements for continued listing as set forth in Marketplace Rule 4310(c)(14), and that its securities are, therefore, subject to trading suspension and delisting. That rule requires that each listed issuer to file copies of all reports and other documents required to be filed with the Securities and Exchange Commission (the “SEC”). The letter also stated that, unless the Company requests an appeal of the determination, trading of the Company’s common stock will be suspended at the opening of business on May 30, 2008, and a Form 25-NSE will be filed with the SEC, which will remove the Company’s securities from listing and registration on Nasdaq. On May 28, 2008, Genitope filed with the SEC its Quarterly Report on Form 10-Q for the quarter ended March 31, 2008.

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