Navigation Links
ImaRx Therapeutics Receives Notification from NASDAQ Regarding Non-Compliance with NASDAQ's Minimum Bid Price Requirement
Date:4/11/2008

TUCSON, Ariz., April 11 /PRNewswire-FirstCall/ -- ImaRx Therapeutics, Inc. (Nasdaq: IMRX) today announced that it received a NASDAQ Staff Deficiency Letter on April 11, 2008 indicating that for the last 30 consecutive business days, the bid price of its common stock has closed below $1.00 per share. As a result, the company fails to comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4).

In accordance with Marketplace Rule 4310(c)(8)(D), the company has been provided 180 calendar days, or until October 8, 2008, to regain compliance. The company will achieve compliance, if before October 8, 2008, 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. If the company does not regain compliance by October 8, 2008, but can demonstrate as of that date that the Company meets the criteria for initial listing set forth in Marketplace Rule 4310(c) (other than the bid price requirement) and its application is approved, the Company will have an additional 180 days to regain compliance.

The Company intends to monitor the closing bid price of its common stock between now and October 8, 2008, and work closely with NASDAQ to resolve the deficiency and consider available options to regain compliance with the NASDAQ minimum closing bid price requirement.

About ImaRx Therapeutics

ImaRx Therapeutics is a biopharmaceutical company commercializing and developing therapies for vascular disorders. The Company's commercialization efforts are currently focused on its product, urokinase for the treatment of acute massive pulmonary embolism. The Company's research and development efforts are focused on therapies for stroke and other vascular disorders using its proprietary microbubble technology.

Forward Looking Statements

Statements in this press release about future expectations, plans and prospects for the Company constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks related to: Events or developments affecting the Company's share price; the Company's potential inability to maintain compliance with other listing requirements between now and October 8, 2008; the risk that NASDAQ exercises its discretion to require that the Company maintain a bid price of at least $1.00 per share for a period in excess of 10 days; and other important risks relating to the Company's business, prospects, financial condition and results of operations that are discussed in the Section titled "Risk Factors" in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2007, which has been filed with the SEC.

Contacts:

The Ruth Group (Investors/Media)

Sara Ephraim/Jason Rando

sephraim@theruthgroup.com

jrando@theruthgroup.com


'/>"/>
SOURCE ImaRx Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full Year 2007
2. ImaRx Reschedules Release of Corporate Updates and Fourth Quarter and Full Year 2007 Financial Results
3. ImaRx to Report Corporate Updates and 4Q07 Financial Results
4. ImaRx Therapeutics Receives Urokinase Lot Release Approval With Extended Expiration Dating
5. CV Therapeutics and Astellas Announce FDA Approval for Lexiscan(TM) (regadenoson) Injection
6. Stemline Therapeutics Raises $12.5 Million
7. Lorus Therapeutics Announces Exclusive Multinational License Agreement with Zoticon Bioventures for Virulizin(R)
8. Amsterdam Molecular Therapeutics Part of Next Biotech Index
9. Sirion Therapeutics Highlights Pivotal Trial Results of Durezol(TM) at the American Society of Cataract and Refractive Surgery Annual Symposium
10. Alba Therapeutics Announces Appointment of Bruce A. Peacock as its Chief Executive Officer
11. Amsterdam Molecular Therapeutics to Appoint George Morstyn to Supervisory Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... Wells, CA (PRWEB) , ... January 21, 2017 ... ... in our ongoing endeavors to bring to market a pioneering medical device for ... O’Rourke, has signed an engagement contract with Emergo, a global regulatory consultancy that ...
(Date:1/20/2017)... Philadelphia, PA (PRWEB) , ... January 20, 2017 , ... ... are transforming healthcare treatment options for patients. Vironika, a spin out from The Wistar ... are both taking lab space at 3624 Market Street. , Vironika is developing ...
(Date:1/19/2017)... Research and Markets has announced the addition ... Type, Application - Global Opportunity Analysis and Industry Forecast, 2014-2022" ... ... is projected to reach $15,737 million by 2022 from $6,521 in ... Omic technologies segment accounted for more than half ...
(Date:1/19/2017)... ... January 19, 2017 , ... ... and development (R&D), today announced the launch of Data Science Services ... the rapidly evolving field of precision medicine. , Data Science Services ...
Breaking Biology Technology:
(Date:12/16/2016)... 16, 2016 The global wearable medical device market, in ... 2021 from USD 5.31 billion in 2016, at a CAGR of ... ... technological advancements in medical devices, launch of a growing number of ... connectivity among healthcare providers, and increasing focus on physical fitness. ...
(Date:12/15/2016)... 15, 2016   WaferGen Bio-systems, Inc. (NASDAQ: ... company, announced today that on December 13, 2016, it ... The Nasdaq Stock Market LLC which acknowledged that, as ... WaferGen,s common stock had been at $1.00 or greater ... compliance with Listing Rule 5550(a)(2) of the Nasdaq Stock ...
(Date:12/15/2016)... LONDON , Dec. 15, 2016 /PRNewswire/ ... the driving experience, health wellness and wellbeing ... As one in three new passenger vehicles ... voice recognition, gesture recognition, heart beat monitoring, ... eyelid monitoring, facial monitoring, and pulse detection. ...
Breaking Biology News(10 mins):