Valentis (VLTS) Receives Delisting Notification from NASDAQ

January 11, 2007 4:18 PM EST

Valentis, Inc. (Nasdaq: VLTS) received a letter on January 8, 2007 from the Listing Qualifications Department of the Nasdaq Stock Market indicating that trading of Valentis' common stock on the Nasdaq Capital Market will be suspended at the opening of business on January 18, 2007 and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove Valentis' securities from listing and registration on Nasdaq, unless Valentis appeals Nasdaq's determination and requests a hearing on the matter no later than 4:00 p.m. Eastern time on January 16, 2007.

As previously reported, Valentis received a letter from Nasdaq on November 21, 2006 indicating that Valentis was not in compliance with Nasdaq Marketplace Rule 4310(c)(2)(B) because Valentis did not have (i) a minimum of $2,500,000 in stockholders' equity, (ii) a $35,000,000 market value of securities quoted on a Nasdaq market or listed on a national securities exchange, or (iii) $500,000 of net income from continuing operations for the most recently completed fiscal year or for two of the three most recently completed fiscal years.

Related Categories

Corporate News

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?