FREMONT, Calif.--(BUSINESS WIRE)--Genitope Corporation (NASDAQ: GTOP) today announced that, on February 7, 2008, it received a Nasdaq staff deficiency letter dated February 7, 2008 indicating that, for the last 30 consecutive days, the bid price for Genitope’s common stock has closed below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Global Market under Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(e)(2), Genitope has 180 calendar days, or until August 5, 2008, to regain compliance. If Genitope does not regain compliance by August 5, 2008, Nasdaq will provide written notification that Genitope’s common stock will be delisted, after which Genitope may appeal the staff determination to the Nasdaq Listing Qualifications Panel if it so chooses. There can be no assurance that Genitope will satisfy Nasdaq’s conditions for continued listing, that any potential appeal or hearing for a stay of delisting will be successful or that Genitope’s common stock will remain listed on The Nasdaq Global Market.
