BOSTON--(BUSINESS WIRE)--Point Therapeutics, Inc. (NASDAQ: POTP) reported today that the Company received a letter on March 8, 2007 from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the Company failed to comply with the minimum bid price requirement for continued listing on the Nasdaq Capital Market Exchange set forth in Marketplace Rule 4310(c)(4) because the Company’s common stock had closed below the minimum $1.00 per share requirement for 30 consecutive business days. The Company can regain compliance if, at any time before September 4, 2007, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by September 4, 2007, the Company will have the right to appeal a staff determination to delist the Company’s securities, and the Company’s securities will remain listed until completion of that appeal process.
