Navigation Links
Spherix Receives NASDAQ Bid Price Deficiency Letter
Date:7/23/2008

BETHESDA, Md., July 23 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX) reported that on July 21, 2008, it received written notification from NASDAQ advising the Company that the bid price of the Company's common stock for the last thirty (30) consecutive business days had closed below the minimum $1.00 per share required for continued listing on NASDAQ. This notice has no effect on the listing of the Common Stock at this time.

Spherix has been provided an initial period of 180 calendar days, or until January 20, 2009, to regain compliance with the minimum price requirement. The notification further provides that NASDAQ will provide written notification stating that the Company has achieved compliance if at any time before January 20, 2009, the bid price of its common stock closes at $1.00 per share or more for a minimum of ten (10) consecutive business days. Under certain circumstances, NASDAQ has the discretion to require compliance for a period in excess of ten (10) consecutive business days, but generally such extended period does not exceed twenty (20) consecutive business days.

If the Company does not regain compliance with this rule by January 20, 2009, NASDAQ will provide notice to the Company that its common stock will be delisted from NASDAQ. If the Company receives such a letter, the Company will have an opportunity to appeal the determination.

The Company is considering seeking stockholder approval for a reverse stock split to address the bid price deficiency.

Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on October 10, 2007.

Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in biotechnology, and provides technical and regulatory consulting services to biotechnology and pharmaceutical companies.

Spherix's Internet address is http://www.spherix.com.


'/>"/>
SOURCE Spherix Incorporated
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
2. Spherix Reports 3rd Quarter Earnings
3. Spherix Reports 2007 Financial Results
4. Spherix Hires Key Employees
5. Spherix Holds Annual Shareholders Meeting
6. Spherix Reports 1st Quarter Earnings
7. Reclast(R) Receives US FDA Approval as First and Only Once-Yearly Treatment for Women With Postmenopausal Osteoporosis
8. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
9. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
10. Anesiva Receives FDA Approval for Zingo(TM), a New, Innovative Product to Reduce Pain Associated with Needle Insertion Procedures in Children
11. IsoTis Receives FDA Clearance for Accell Family of Products
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... , ... While the majority of commercial spectrophotometers and fluorometers use the z-dimension ... are higher end machines that use the more unconventional z-dimension of 20mm. Z-dimension ... bottom of the cuvette holder. , FireflySci has developed several Agilent flow cell ...
(Date:6/23/2016)... , June 23, 2016   Boston Biomedical ... novel compounds designed to target cancer stemness pathways, ... been granted Orphan Drug Designation from the U.S. ... of gastric cancer, including gastroesophageal junction (GEJ) cancer. ... designed to inhibit cancer stemness pathways by targeting ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... Plate® YM (Yeast and Mold) microbial test has received AOAC Research Institute approval ... of microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... the launch of the Supplyframe Design Lab . Located in Pasadena, Calif., ... the future of how hardware projects are designed, built and brought to market. ...
Breaking Biology Technology:
(Date:5/20/2016)... 20, 2016  VoiceIt is excited to announce ... By working together, VoiceIt and VoicePass ... and VoicePass take slightly different approaches to voice ... security and usability. ... new partnership. "This marketing and technology ...
(Date:5/12/2016)... , May 12, 2016 WearablesResearch.com ... just published the overview results from the Q1 wave ... the recent wave was consumers, receptivity to a program ... data with a health insurance company. "We ... to share," says Michael LaColla , CEO of ...
(Date:5/3/2016)... VILNIUS, Lithuania , May 3, 2016 /PRNewswire/ ... today released the MegaMatcher Automated Biometric Identification ... deployment of large-scale multi-biometric projects. MegaMatcher ABIS can ... and accuracy using any combination of fingerprint, face ... of MegaMatcher SDK and MegaMatcher ...
Breaking Biology News(10 mins):