| EnteroMedics announced that on November 13 it received two Nasdaq Staff Deficiency Letters indicating that, for 30 consecutive business days, the company's listed securities did not maintain the minimum Market Value of Publicly Held Share, or MVPHS, of $15M as required by Listing Rule 5450b-2-C and did not maintain a minimum bid price of $1.00 per share as required by Listing Rule 5450-a-1. The company has been provided 90 calendar days, or until February 11, 2010, to regain listing compliance with rule 5450-b-2-C, which can be achieved if the company’s MVPHS closes at $15M or more for a minimum of ten consecutive business days during this time, and 180 days, or until May 12, 2010, to regain listing compliance with rule 5450-a-1, which can be achieved if the company’s common stock closes at or above $1.00 per share for a minimum of ten consecutive business days during this time. EnteroMedics previously announced that, on October 19 it received a Nasdaq Staff Deficiency Letter indicating that, for ten consecutive business days, the Company's common stock did not maintain the minimum Market Value of Listed Securities, or MVLS, of $50M as required by Listing Rule 5450-b-2-A. The company was provided 90 calendar days, or until January 19, 2010, to regain listing compliance with rule 5450-b-2-A. The company’s common stock will continue to be listed on the Nasdaq Global Market during this period. :theflyonthewall.com |
