Antigenics receives Nasdaq delisting warning
This article was originally published in Scrip
Executive Summary
Antigenicshas received a Nasdaq warning letter informing the company that it does not have the required $50 million minimum market value of listed securities set out in the index's Marketplace Rule. The company has also failed to meet the alternative rule that requires $50 million of total assets and $50 million of total revenue for either the most recently completed fiscal year or two of the past three fiscal years. Antigenics has until December 22nd to regain compliance with the rules and must have listed securities with a market value of $50 million or more for 10 consecutive days. Antigenics did not state how it plans to regain compliance but said that if it was delisted, it might appeal against the Nasdaq's decision or apply to transfer its securities from the Nasdaq Global Market to the Capital Market.