HAYWARD, Calif.--(BUSINESS WIRE)--IMPAX Laboratories, Inc. has received several inquiries concerning reports of transactions in its common stock in the OTC market. Although the Company’s registration statement on Form 10 became effective on December 9, 2008, market makers are not yet permitted to publish quotations for the Company’s stock and will not be permitted to do so until their applications have been approved by the Financial Industry Regulatory Authority (FINRA). The Company understands that FINRA will not approve the applications of market makers until all SEC comments involving the Form 10 registration statement have been resolved, and there remain pending before the SEC several comments concerning the Company’s request for confidential treatment of certain portions of its contracts filed as exhibits to the registration statement. However, while market-making activities have not yet resumed, broker-dealers have since December 9 been permitted to effect transactions in the Company’s stock. The Company understands that the transactions recently reported are the so-called "grey market" and result of private negotiations between broker-dealers.
