Published on February 3, 2010 at 12:41 AM
EpiCept Corporation (Nasdaq and Nasdaq OMX Stockholm Exchange: EPCT)
today announced that Nasdaq notified the Company that it has regained
compliance with the minimum bid price requirement in Listing Rule
5550(a)(2) and met the requirements of the Nasdaq Listing Qualification
Panel (the “Panel”) decision dated November 2, 2009. Accordingly, the
Panel has determined to continue the listing of the Company’s common
stock on The Nasdaq Stock Market.
As previously announced, following a hearing before the Panel, the Panel
determined to continue the Company’s listing subject to the condition
that, on or before February 1, 2010, the Company evidence a closing bid
price of $1.00 per share or more for at least the ten prior consecutive
trading days. On January 29, 2010, the Company’s closing bid price was
$2.29 per share, the tenth consecutive day it had exceeded the $1.00 per
share threshold. Accordingly, the Company satisfied the Panel’s
condition and the delisting proceeding is now closed.
SOURCE EpiCept Corporation