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RXi Pharmaceuticals Corporation Message Board

  • monicaotoole Jan 9, 2014 5:10 PM Flag

    Nasdaq Listing

    After reading this mb,reviewing the Dec 13 presentation and insider buying I find RXII a very interesting proposition, could someone inform me of how many days the pps has to be above $4 before uplisting?
    Thanks in advance.

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    • If I remember correctly, about 4 weeks.

    • There is NO requirement concerning a certain number of days with a closing share price above 4 usd.
      The Nasdaq Rules 5000 ff define the requirement concerning the minimum bid price of 4 usd as follows:

      Rule 5405. Initial Listing Requirements and Standards for Primary Equity Securities
      A Company applying to list its Primary Equity Security on the Global Market shall meet all of the requirements set forth in Rule 5405(a) and at least one of the Standards in Rule 5405(b).

      (a) Initial Listing Requirements for Primary Equity Securities:
      (1) Minimum bid price of at least $4 per share;
      (2) At least 1,100,000 Publicly Held Shares; and
      (3) At least 400 Round Lot Holders.

      There are a lot of additional regulations which have also to be met but at RXII everything is aligned now and I think the Nasdaq Listing is imminent any day now. We will soon hear from IR that this milestone for the company is finally successfully done and a lot of new buyers and interest will follow. Peers with RNA Technology and at same development stage have far higher valuations - e.g. Alnylam is valued at about 4,000 million usd - 100 fold the value of our tiny RXII.

      Hope this helps. You are welcome

      Sentiment: Strong Buy

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