MELBOURNE, Australia & MENLO PARK, Calif.--(BUSINESS WIRE)--ChemGenex Pharmaceuticals Limited (ASX: CXS, NASDAQ: CXSP), today announced that it had received a Nasdaq Staff Deficiency Letter concerning its non-compliance with Nasdaq’s audit committee requirement for continued listing as set forth in Marketplace Rule 4350. This non-compliance resulted from the resignation, as previously announced, of Mr. Peter Bradfield and Dr. Denis Wade from the board of directors, reducing the independent members of the audit committee to one. Nasdaq has requested the Company provide a specific plan and timetable to achieve compliance with the Rule. The Company will respond as requested and fully expects to regain compliance as soon as reasonably possible.
