Urologix receives deficiency letter from Nasdaq
Urologix receives deficiency letter from Nasdaq due to low stockholder's equity
- On 3:22 pm EDT, Monday September 21, 2009
MINNEAPOLIS (AP) -- Urologix Inc., which makes medical products to treat urological disorders, said Monday it received a deficiency letter from the Nasdaq Stock Market.
The company received the letter because it is not in compliance with the minimum $10 million in stockholder's equity required for continued listing on the Nasdaq Global Market.
In August, the company said it had just over $9.9 million in stockholder's equity as of June 30.
The company said it intends to apply for a transfer to be listed on the Nasdaq Capital Market as an alternative to regaining compliance on the Nasdaq Capital Market.
Shares of Urologix rose 2 cents to $1.18 in afternoon trading.
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