TORONTO, Jan. 22, 2008 (PRIME NEWSWIRE) -- Polydex Pharmaceuticals Limited (Nasdaq:POLXF) announced today that on January 18, 2008, it received a Nasdaq Staff Deficiency Letter from The Nasdaq Stock Market notifying it that the Company’s bid price per share for its common stock had closed below the $1.00 minimum bid price for 30 consecutive business days. As a result, Polydex no longer meets the requirements of Marketplace Rule 4310(c)(4) for continued listing on The Nasdaq Capital Market and has 180 calendar days, or until July 14, 2008, to regain compliance. During this 180-day period, Polydex shares will continue to trade on The Nasdaq Capital Market.
