Genitope Corporation Announces Receipt of Nasdaq Delisting Notice
Published: Aug 12, 2008
FREMONT, Calif.--(BUSINESS WIRE)--Genitope Corporation (NASDAQ:GTOP) today announced that, on August 7, 2008, it received a staff determination letter from The Nasdaq Stock Market (“Nasdaq”) formally notifying Genitope that it has not regained compliance with the minimum $1.00 per share bid price requirement for continued inclusion on the Nasdaq Global Market under Marketplace Rule 4450(a)(5) and that, unless appealed, trading in Genitope’s common stock will be suspended. Genitope does not currently intend to appeal this determination. As a result, trading of Genitope’s common stock will be suspended at the opening of business on August 18, 2008 and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove Genitope’s securities from listing and registration on The Nasdaq Stock Market.