EAST WINDSOR, NJ--(MARKET WIRE)--Jul 3, 2006 -- NexMed, Inc. (Nasdaq:NEXM - News), a developer of innovative transdermal treatments based on the NexACT® drug delivery technology, today announced that it has received a notice from Nasdaq indicating that it has not regained compliance in accordance with Marketplace Rule 4450(e)(4) as the market value of its common stock has remained below the minimum of $50,000,000 required for continued inclusion in the Nasdaq National Market. Accordingly, its common stock will be delisted at the opening of business on July 7, 2006 unless NexMed files a hearing request with the Nasdaq Listing Qualifications Panel before the end of business on July 5, 2006. NexMed has filed the request for a hearing to appeal Nasdaq's determination and its stock will continue to trade on the Nasdaq National Market pending the final decision by Nasdaq. A hearing date has not yet been set by Nasdaq.
