BELLUS Health Reports Results for Third Quarter of Fiscal 2008 and on E...(the market value ofthe Company's listed ...),Health

Date:11/10/2008

the market value of the Company's listed securities has been below the minimum $50,000,000 requirement for continued inclusion on The NASDAQ's Global Market. The Company believes that the recent decline in its market value is due to the general pressure on equity markets worldwide. The Company has 30 calendar days, or until November 10, 2008, to regain compliance to which BELLUS Health will strive. If the market value of the Company's common stock is $50,000,000 or more for a minimum of 10 consecutive business days at any time prior to November 10, 2008, NASDAQ may determine that the Company has regained compliance with the applicable listing requirements. If compliance with the Rules cannot be demonstrated by November 10, 2008, NASDAQ will provide written notification that the Company's securities will be delisted, at which time the Company may appeal the determination to a Listing Qualifications Panel, requesting additional time to regain compliance. Pending this appeal, the common stock would continue to trade on NASDAQ. Among the alternatives the Company is considering, is the submission of a transfer application to transfer the Company's listed securities to The NASDAQ Capital Market Tier if it cannot regain compliance with the requirements of NASDAQ's Global Market Tier within the appeals period or any extended time granted by NASDAQ. There can be no assurance that NASDAQ will approve the Company's transfer application. The Company's common stock is also listed on the Toronto Stock Exchange (TSX) and such listing is not affected by the notice received from NASDAQ. The market value of the Company's common stock has not been $50,000,000 or more for a minimum of 10 consecutive business days during the period beginning on October 10 and ending on November 10, 2008. Accordingly, the Company anticipates that it will receive written notification from NASDAQ that its securities will be delisted from its Global Tier Market, and expects to file a notice of appeal in re
'/>"/>

SOURCE BELLUS Health Inc. Copyright©2008 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
Related medicine news :

1. BELLUS Health to present at the Rodman and Renshaw 10th Annual Healthcare Conference
2. BELLUS Health provides update on activities
3. BELLUS Health announces closing of Innodia acquisition
4. BELLUS Health to present at the Rodman and Renshaw 5th Annual Global Healthcare Conference
5. BELLUS HEALTH reports results for first quarter of fiscal 2008
6. At Annual and Special Meeting of Shareholders - Neurochem to officially adopt new name - BELLUS Health - And to provide update on programs including first new natural health product, VIVIMIND(TM)
7. Healthcare Realty Trust Announces Third Quarter Results
8. World Publics See Government as Responsible for Ensuring Basic Healthcare, Food, and Education Needs
9. MAP Pharmaceuticals to Present at the Lazard Capital Markets 5th Annual Healthcare Conference
10. Major Mental Health Associations Join to Support Give an Hour
11. Wyeth to Present at the Credit Suisse Healthcare Conference