Memory Pharmaceuticals Receives Nasdaq Notification Related to Minimum... ( MONTVALE N.J. Dec. 6 /- Memory Ph...)

Memory Pharmaceuticals Receives Nasdaq Notification Related to Minimum Bid Price

Date:12/6/2007

MONTVALE, N.J., Dec. 6 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) announced today that on December 5, 2007 it received notice from The Nasdaq Stock Market that for the past 30 business days the Company has not met the $1.00 minimum closing bid price requirement for continued listing on the Nasdaq Global Market, as required by Marketplace Rule 4450(a)(5).

The notification letter has no effect at this time on the listing of Memory Pharmaceuticals' common stock on the Nasdaq Global Market and the Company will continue to trade on the Nasdaq Global Market under the symbol MEMY. The notification letter states that Memory Pharmaceuticals will be afforded 180 calendar days, or until June 2, 2008, to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for at least 10 consecutive business days.

If the Company is unable to regain compliance by June 2, 2008, Nasdaq will provide written notification to the Company that its common stock is subject to delisting. The Company may also elect to apply to transfer its common stock from the Nasdaq Global Market to the Nasdaq Capital Market if it satisfies all requirements, other than the minimum bid price requirement, for initial inclusion in this market. If the Company makes such an election and its transfer application is approved, the Company will be eligible to regain compliance with the minimum closing bid price requirement until 180 days after the end of the first 180 day period. If, at the conclusion of either or both of the 180-day periods, Memory Pharmaceuticals has not achieved compliance, it may appeal Nasdaq's det
'/>"/>

SOURCE Memory Pharmaceuticals Corp.
Copyright©2007 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3
Related medicine news :

1. New Alzheimers findings: High stress and genetic risk factor lead to increased memory decline
2. Removing Ovaries Before Menopause Leads to Memory, Movement Troubles
3. Boston University School of Medicine researcher recipient of Memory Ride Grant
4. New understanding of basic units of memory
5. Obesity Wont Affect Seniors Memory
6. HRT: A Boost for Libido, But Not Memory
7. Memory tasks require more coordinated brain blood flow for people with high blood pressure
8. Computerized training of working memory is a promising therapeutic strategy in ADHD
9. Alzheimers Foundation of America Holds Fifth Annual National Memory Screening Day
10. Survey Reveals Widespread Lack of Communication With Doctors About Memory Concerns
11. Memory Pharmaceuticals to Present at Upcoming Investor Conferences

Post Your Comments:

Memory Pharmaceuticals Receives Nasdaq Notification Related to Minimum...( MONTVALE N.J. Dec. 6 /- Memory Ph...),Health