Navigation Links
XTL Biopharmaceuticals Ltd. Receives Notification of Delisting Determination by NASDAQ Listing Qualifications Panel
Date:4/16/2009

REHOVOT, Israel, April 16 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (Nasdaq: XTLB, TASE: XTL) today announced that on April 15, 2009, it received notification from The Nasdaq Stock Market ("Nasdaq") that the Nasdaq Listing Qualifications Panel (the "Panel") has determined that the Company's American Depository Shares ("ADRs") will be delisted. Nasdaq will suspend trading in the Company's ADRs at the opening of trading on April 17, 2009. Nasdaq's determination to delist the ADRs is based on Nasdaq's belief that the Company is a public shell and that the Company does not meet the stockholder's equity requirement or any of its alternatives. The Company now expects to be quoted on the Pink Sheets, an electronic quotation service maintained by Pink Sheets LLC, or on the OTC Bulletin Board(R), a regulated quotation service for over-the-counter securities, provided one or more market makers apply to quote the Company's securities.

As previously announced, on January 27, 2009, the Company received a Staff Determination Letter (the "Letter") from The Nasdaq notifying the Company that the staff of Nasdaq's Listing Qualifications Department (the "Staff") determined, using its discretionary authority under Nasdaq Marketplace Rule 4300, that the Company's ADRs would be delisted from Nasdaq. On February 3, 2009, the Company appealed the Staff's delisting determination, which stayed the delisting process until a hearing was held before the Panel and the Panel delivered a decision. The hearing was held on March 19, 2009. The Panel thereafter ruled to proceed with the delisting process.

ABOUT XTL BIOPHARMACEUTICALS LTD.

XTL Biopharmaceuticals Ltd. ("XTL") is engaged in the acquisition, development and commercialization of therapeutics for the treatment of multiple myeloma and hepatitis C. XTL will be developing rHuEPO for the treatment of multiple myeloma. XTL is publicly traded on the NASDAQ and Tel-Aviv Stock Exchanges (NASDAQ: XTLB; TASE: XTL).

Cautionary Statement

Some of the statements included in this press release, particularly those anticipating future quotation of our securities, may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.


'/>"/>
SOURCE XTL Biopharmaceuticals Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
2. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
3. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
4. XTL Biopharmaceuticals Announces Presentation of Novel Pre-Clinical Inhibitors of Hepatitis C at an Upcoming International Scientific Conference
5. XTL Biopharmaceuticals Initiates Phase IIb Clinical Trial of Bicifadine for the Treatment of Diabetic Neuropathic Pain
6. Nabi Biopharmaceuticals Announces Sale of Nabi Biologics to Biotest AG
7. Keryx Biopharmaceuticals to Present at Bank of America Investment Conference
8. Morria Biopharmaceuticals Plc Announces Appointment of Dr. Rosemary Mazanet as Interim Chief Executive Officer
9. Keryx Biopharmaceuticals, Inc. Announces Appointment of Michael P. Tarnok to Board of Directors
10. Morria Biopharmaceuticals Plc Appoints Dr. Johnson Lau and Dr. David Sidransky to Board of Directors
11. XTL Biopharmaceuticals Ltd. AGM / EGM Postponed Until October 2, 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/30/2016)... 30, 2016 The global Pyrogen ... hold a dominant share in the overall market. The ... Inc., and Merck KGaA, held a lion,s share of ... Research observes that these companies are expected to retain ... that are do not require rabbit pyrogen testing along ...
(Date:11/30/2016)... , Nov. 30, 2016 Biotest Pharmaceuticals Corporation ... pleased to announce the addition of its newest plasma ... Kearney, Nebraska . The 15,200 square foot state-of-the-art ... 29th, 2016 and brings the total number of BPC,s ... Ileana Carlisle , BPC,s Chief Executive Officer said "We ...
(Date:11/30/2016)... VANCOUVER , Nov. 30, 2016 /PRNewswire/ -  Equicare ... coordination solutions, has been recognized as one of the ... 100, an annual international listing that distinguishes the top ... "We,ve pushed a great step forward this year continually ... growing our own customer base and team," says ...
(Date:11/30/2016)... BEIJING , Nov. 30, 2016 /PRNewswire/ ... of genomic services and solutions with cutting edge next-generation ... has completed a USD $75 Million [515 Million RMB] ... CMB International Capital Management ( Shenzhen ) ... Ltd. ("SDIC Innovation") and Shanghai Sigma Square Investment Center ...
Breaking Biology Technology:
(Date:11/17/2016)... LONDON , Nov. 17, 2016 Global Market ... and Public Biobanks (Disease-Based Banks, Population-Based Banks and Academics) market ... Geographical analysis for Private Biobanks shows the highest Compounded Annual ... Asia-Pacific region during the analysis period 2014-2020. ... a CAGR of 9.95% followed by Europe ...
(Date:11/14/2016)... Nov. 14, 2016  xG Technology, Inc. ("xG" or ... critical wireless communications for use in challenging operating environments, ... 30, 2016. Management will hold a conference call to ... p.m. Eastern Time (details below). Key Recent ... $16 million binding agreement to acquire Vislink Communication Systems. ...
(Date:6/22/2016)... , June 22, 2016 On Monday, ... call to industry to share solutions for the Biometric ... U.S. Customs and Border Protection (CBP), explains that CBP ... are departing the United States , ... and to defeat imposters. Logo - ...
Breaking Biology News(10 mins):