ALISO VIEJO, Calif.--(BUSINESS WIRE)--AVANIR Pharmaceuticals (NASDAQ: AVNR) today announced that it has received a Staff Determination Letter from Nasdaq notifying the Company that it is not in compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Global Market pursuant to Marketplace Rule 4450(a)(5). This notification, which was received in a Staff Determination letter dated August 13, 2008, is a standard communication when the bid price of a Nasdaq-listed company closes below the minimum $1.00 per share requirement for 30 consecutive business days. The Staff Determination letter has no effect at this time on the listing of AVANIR Pharmaceuticals’ common stock on the Nasdaq Global Market and the Company is expected to continue to trade on the Nasdaq Global Market under the symbol AVNR for at least the next six months.
