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:1/20/2017)... , January 20, 2017 ... is one of leading causes of death worldwide. There ... the number of cancer related deaths increased gradually over ... in incidence rate of various cancers continues to drive ... research report by Global Market Insights, Inc. cancer biological ...
(Date:1/19/2017)... Research Future has a half cooked research report on Global Liquid ... and expected to reach USD 450 Million by the end of ... ... assessed as a swiftly growing market and expected that the market ... There has been a tremendous growth in the prevalence of cancer ...
(Date:1/19/2017)... and Markets ... addition of the "Implantable Biomaterials Market Analysis & ... to their offering. Report Highlights: ... current and future market trends to identify the investment opportunities ... numbers Key market trends across the business segments, Regions ...
(Date:1/19/2017)... GAITHERSBURG, Md. , Jan. 19, 2017 /PRNewswire/ ... a privately-held immunotherapeutics company targeting infectious diseases, announced ... the merger of PharmAthene and Altimmune in an ... Fund, HealthCap, Truffle Capital and Redmont Capital. The ... immunotherapeutics company with four clinical stage and one ...
Breaking Biology Technology:
(Date:1/3/2017)... VEGAS , Jan. 3, 2017 Onitor, ... the introduction of Onitor Track, an innovative biometric data-driven ... men, showcasing this month at the 2017 Consumer Electronics ... In the U.S., the World Health ... more than two-thirds of adults who are overweight or ...
(Date:12/20/2016)... 20, 2016   Valencell , the leading ... STMicroelectronics (NYSE: STM), a global semiconductor leader ... announced today the launch of a new, highly ... that includes ST,s compact SensorTile turnkey ... biometric sensor system. Together, SensorTile and Benchmark deliver ...
(Date:12/16/2016)... The global wearable medical device market, in terms of ... USD 5.31 billion in 2016, at a CAGR of 18.0% during ... ... in medical devices, launch of a growing number of smartphone-based healthcare ... healthcare providers, and increasing focus on physical fitness. ...
Breaking Biology News(10 mins):