SOUTH SAN FRANCISCO, Calif., July 23 /PRNewswire-FirstCall/ -- Anesiva, Inc. (Nasdaq: ANSV) received, as previously disclosed on its Current Report on Form 8-K filed with the Securities and Exchange Commission on April 2, 2009 and in its press release on April 1, 2009, a letter from the NASDAQ Stock Market LLC ("NASDAQ") on March 27, 2009, informing Anesiva that it was not in compliance with Marketplace Rule 4450(a)(3) (which has since been superseded by Rule 5450(b)(1)(A)) (the "Rule"), because Anesiva's stockholder's equity at December 31, 2008 was less than the minimum $10.0 million required for continued listing on The NASDAQ Global Market.
On July 17, 2009, Anesiva received a letter from NASDAQ notifying Anesiva that based on NASDAQ's further review of Anesiva and material submitted by Anesiva, Anesiva has failed to regain compliance with the Rule and that, therefore, NASDAQ has determined to delist the Company's securities from The NASDAQ Global Market.
Anesiva has requested a hearing before a NASDAQ Hearings Panel to appeal the determination to delist Anesiva's securities. Anesiva's securities will remain listed on The NASDAQ Global Market pending a decision by the Hearings Panel following the hearing.
Anesiva seeks to be a leader in the development and commercialization of novel pharmaceutical products for pain management. The company's lead product candidate is Adlea, a novel small molecule formulation of capsaicin that is currently in development for the management of acute pain following orthopedic surgeries. Adlea has been shown in clinical trials to provide extended pain relief after only a single administration in multiple indications for site-specific, acute and chronic, moderate-to-severe pain.
|SOURCE Anesiva, Inc.|
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