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Delcath Systems, Inc. Message Board

  • crossroads66 crossroads66 Oct 23, 2013 6:02 PM Flag

    Often these cos. ask for and get a second six month extension from nsdq ...

    have you heard that DCTH has not done the same?

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    • I would think since they just diluted that they will request another extension. No reason not to at this point. Unless they just want to avoid the extra paperwork showing confidence it will be sub-$1 for another six months.

      Dilution isn't the worst thing, these biotechs need money. This does though, unfortunately, and not like I really had my hopes up that high, show they have no partner or buyout on the horizon.

    • They cant do anything till dec 10 th , thats when the hearing is.

      2. Additional Compliance Period for NCM Listed Companies: If a company listed on the NCM is unable to regain compliance with the $1.00 minimum bid price requirement within the initial 180 day period, it will receive a second 180 day grace period provided the company (a) has at least $1 million in market value of shares held by non-affiliates and satisfies all of the other listing requirements for initial listing on the NCM (except the bid price requirement) and (b) notifies NASDAQ of its intent to cure the listing deficiency. If it does not appear to NASDAQ that it is possible for the company to cure the deficiency, this second grace period will not be granted.
      3. Delisting Letter: If a company is unable to regain compliance within the grace period (including the additional grace period, if available), NASDAQ will issue a delisting letter. Within four business days of the receipt of the delisting letter, the company must publicly announce the receipt of the letter by filing an 8-K with the SEC.
      4. Hearing: Upon receipt of a delisting letter the company will have seven days to submit a written request for a hearing before the NASDAQ Listing Qualifications Panel. The timely submission of this request will stay the delisting process pending the decision of the panel. At a hearing the company will be required to present a plan to regain compliance with the continued listing standards. The plan of compliance should describe the manner in which the company will regain and maintain compliance with the NASDAQ continued listing standards. NASDAQ has stated that the plan should include the implementation of a reverse stock split in the near term – no later than 180 days after receipt of the delisting letter. In determining whether to provide the company with the opportunity to implement its plan of compliance, the panel may consider other factors such as the company’s fundamental financial strengths and weaknes

 
DCTH
2.23-0.06(-2.62%)Jul 25 3:57 PMEDT

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