Achillion Pharmaceuticals (ACHN) Receives Non-Compliance Notification From NASDAQ
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Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN) received notification from the NASDAQ Listings Qualification Department that the Company's stockholders' equity of $7,214,000, as reported in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2009 that it filed with the Securities and Exchange Commission, does not comply with the minimum stockholders' equity requirement of $10,000,000 for continued listing on The NASDAQ Global Market pursuant to NASDAQ Listing Rule 5450(b)(1)(A).
Given the Company's shareholders' equity level has fallen below the minimum stockholders' Equity Standard, the Listing Qualifications Staff is reviewing the Company's eligibility for continued listing on The NASDAQ Global Market. The Company may also satisfy compliance by meeting the requirements of the Market Value Standard or the Asset/Revenue Standard.
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