SAN DIEGO, July 15 /PRNewswire-FirstCall/ -- Favrille, Inc. (Nasdaq: FVRL) today announced that it has received Nasdaq staff deficiency letters dated July 9, 2008 indicating that, for the last 30 consecutive trading days, (i) the closing bid price for Favrille's common stock has been below the minimum $1.00 per share requirement and (ii) Favrille has not maintained the $5,000,000 minimum market value of publicly held shares as required for continued inclusion on the Nasdaq Global Market under Marketplace Rules 4450(a)(5) and (2), respectively. In accordance with Marketplace Rule 4450(e)(1), Favrille has 90 calendar days, or until October 7, 2008, to regain compliance with the $5,000,000 minimum market value requirement. In accordance with Marketplace Rule 4450(e)(2), Favrille has 180 calendar days, or until January 5, 2009, to regain compliance with the minimum $1.00 per share requirement. If Favrille does not regain compliance with either of the above Marketplace Rules within the applicable required timeframes, Nasdaq will provide written notification that Favrille's common stock will be delisted, after which Favrille may appeal the staff determination to the Nasdaq Listing Qualifications Panel if it so chooses.
About Favrille, Inc.
Favrille, Inc. is a biopharmaceutical company focused on the development and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system.
Statements in this press release that are not strictly historical in
nature constitute "forward-looking statements." Such statements include,
but are not limited to, references to Favrille's product candidates,
proprietary technologies and research and clinical development programs.
Such forward- looking statements involve known and unknown risks,
uncertainties and oth
|SOURCE Favrille, Inc.|
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