Now back in compliance, Zalicus eyes return to Nasdaq Global Market
Gina Nugent, head of corporate communications for Zalicus, said now that the company has gotten the letter confirming its regained compliance for the Capital Market, it’s setting its sights back on the larger Global Market/ That market, she said is typically followed by larger, long-term institutional investors as opposed to individual, retail investors. The company was listed on that exchange until last April, after its stock price had not stayed above the $4 minimum required for more than six months.
Nugent said that in addition to the $4 share minimum, there is also a market cap minimum of $75 million for 90 trading days.
“Given our lows over the summer we are just halfway there,” Nugent said in an email. “We can apply for Nasdaq Global Market once we hit that market cap min. Of course there is no way to predict that timing, but we are hopeful that if stock remains trading at current levels to be able to reapply by end of the year.”