On August 3, 2009, the Company received a letter from the Nasdaq Listing Qualifications Department stating that the Company had not regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2) by July 28, 2009 and, as a result, its common stock would be subject to delisting from The Nasdaq Capital Market unless the Company requests an appeal before the Nasdaq Hearings Panel (the “Panel”). The Company intends to request a hearing before the Panel, which will stay the delisting of its common stock pending the issuance of a decision by the Panel following the hearing. The Company expects that the hearing will be scheduled for September 2009. At the hearing, the Company will request continued listing on The Nasdaq Capital Market based upon its plan for demonstrating compliance with the applicable listing requirements. Pursuant to the Nasdaq Marketplace Rules, the Panel has the authority to grant the Company up to an additional 180 days from August 3, 2009 (i.e. January 30, 2010) to implement its plan of compliance. There can be no assurance that the Panel will grant the Company’s request for continued listing on The Nasdaq Stock Market.
It means that Delisting is imminent, within 1 month! I've not seen 1 message about this...NONE.
simabuzz... This information is well known to anyone who has done basic DD. There really is nothing to discuss until we know if the company's plan is accepted or not. These notices have become extremely common over the past year, and the exchanges have been granting extensions where a reasonable plan is submitted. I believe such a plan would not be difficult to formulate in the case of EPCT. Even if de-listing did happen, what frightens you? Biotechs move on products and prospects. Business would go on, as it has for others, and with the catalysts approaching negative pps response would be transient IMO. Then, re-listing would occur. But at this climatic stage in the company history, it is most likely that an extension of 180 days will be granted. During that time, listing requirements will surely be met. You are panicking. If this is very troublesome to you, then perhaps another sector might suit you better. Be prepared to pay more for the safest stocks, and the potential for higher percentage gains may not be so enticing. You want to pay little, have safety guarantees, and high yield potential. Not reasonable. Development stage companies are usually in 'survival mode', until their products come to market. Judge them by how they handle those days in the shade. Each must determine his own risk/reward tolerance based on his own DD. Let the sunshine in! GLTA
Completely agree, but there are actually profitable bio stocks out there which is also very attractive. Why take the risk..
There is a chances they may come out profitable, but we are talking at a minimum of 1/2 year. between then. they still dulit 15 millions share every quarter..
it is not promising to investors at this point..
If you want to risk it becoming profitable..
It is still not now, i believe if you guys throw money in now.. You become scope goats for the company.
Very well said! It always amazes me that many posters who probably can't change a tire whine about the slow pace of many biotech research programs.
You, however, understand the risk/reward process to a T.
True, like so many other biotechs...Difference with the last 1 is, that thsi is NASDAQ's final call...This will bother a lot of investors as well as potential partners. How likely is the chance for a partnership, when EPCT is send to the OTCBB?
Zero chance - managemnt already has a listing plan which they will present in September. Based on Ceplene revenues and partnering efforts share price will exceed $1.00 very soon, as early as the next couple of weeks. Like I said earlier, they will have six months to comply.
It may be not bad thing, Kerx underwent the same situation, to regain compliance with the minimum bid price requirement, Kerx solved the problem and its stock price up a lot. why don't you think EPCT will do the same thing?