LAKE BLUFF, Ill.--(BUSINESS WIRE)--NeoPharm, Inc. (NASDAQ:NEOL), announced today that it intends to request a hearing before the NASDAQ Listing Qualifications Panel at which it will request continued listing on The NASDAQ Stock Market pending completion of its plan to regain compliance with the $1.00 bid price requirement, as set forth in NASDAQ Marketplace Rule 4310(c)(4). As previously announced on June 12, 2008, the NASDAQ Listing Qualifications Staff (the “Staff”) previously determined to grant the Company’s request to transfer the listing of its common stock from The NASDAQ Global Market to The NASDAQ Capital Market. Based on discussions with the Staff, the Company believed it would be eligible for an additional 180-day grace period to regain compliance with the $1.00 bid price requirement, through December 20, 2008.
