THE WOODLANDS, Texas--(BUSINESS WIRE)--Repros Therapeutics Inc. (NasdaqCM:RPRX) today announced that Nasdaq has granted the Company until October 31, 2010 to meet the minimum bid price requirement of the Nasdaq Capital Market. Listing Rule 5550(a)(2) requires the Company to maintain a minimum bid price of $1.00 for a minimum of ten consecutive trading days. At the Company’s annual stockholders' meeting held on May 17, 2010, the stockholders approved a proposal to grant the Company’s board of directors the authority to effect a reverse split of its common stock within one year of such annual meeting on a basis not to exceed one share of common stock for up to five shares of common stock outstanding, if necessary, in the sole discretion of the Company’s board of directors, for purposes of maintaining its listing on the Nasdaq Capital Market.
