EAST RUTHERFORD, N.J., April 14 /PRNewswire-FirstCall/ -- Cambrex Corporation (NYSE: CBM) announced today that the Company has been notified by the New York Stock Exchange (the "NYSE") that it was below the NYSE's continued listing standard relating to the Company's total market capitalization and its stockholders' equity. The Company received the notice on April 9, 2009 from the NYSE that it did not meet its continued listing standards because its average market capitalization was below $75 million over a consecutive 30 day trading period and the Company's shareholders' equity was less than $75 million at December 31, 2008. The Company reported shareholders' equity of $74.8 million at December 31, 2008. In accordance with NYSE procedures, the Company intends to provide the NYSE, within 45 days from the date of the notice, a business plan that demonstrates the Company's ability to return to compliance with these continued listing standards within 18 months from the date of the notice. During this period, the Company's common stock will continue to be traded on the NYSE, subject to the Company's compliance with other NYSE listing requirements.
Cambrex provides products and services to accelerate the development and commercialization of small molecule therapeutics including active pharmaceutical ingredients ("API"), advanced intermediates, enhanced drug delivery, and other products for branded and generic pharmaceuticals. For more information, please visit www.cambrex.com.
This document may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under The Securities Exchange Act of 1934, as amended, i
|SOURCE Cambrex Corporation|
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