Eden Bioscience (EDEN) Receives Delisting Notification from NASDAQ
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Eden Bioscience Corporation (NASDAQ: EDEN) received a Nasdaq Staff Deficiency Letter from the Nasdaq Stock Market notifying it that the closing price per share for the Company's common stock was below the $1.00 minimum bid price requirement for 30 consecutive trading days and that, as a result, the Company no longer meets The Nasdaq Capital Market's minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4).
Nasdaq has provided the Company with 180 calendar days, or until June 11, 2007, to regain compliance. To regain compliance with the minimum bid price requirement, the closing bid price of the Company's common stock must remain above $1.00 for a minimum of ten consecutive trading days. If the Company does not regain compliance by June 11, 2007, and is not eligible for an additional 180-day compliance period, Eden Bioscience's common stock will be delisted from The Nasdaq National Market.
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