Form 8-K for ARADIGM CORP
6-Apr-2006
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tran
ITEM 3.01: NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING
On March 31, 2006, Aradigm Corporation (the "Company") received a notice from The Nasdaq Stock Market ("Nasdaq") indicating that the company has not met the $50,000,000 minimum market value requirements by Marketplace Rules 4450(b)(1)(A) and 4450(b)(1)(B) for a period of 10 consecutive trading days. The notice states that the Company If, at anytime before April 28, 2006, the market value of Aradigm's common stock is $50,000,000 or more for a minimum of 10 consecutive trading days, that this could constitute meeting the criteria under the market rules. In addition, before April 28, 2006, Aradigm could meet these market rules by meeting the criteria for the alternative-listing requirement relating to stockholders' equity set forth in Marketplace Rule 4450(a)(3). If Aradigm has not met the market rule criteria related the Marketplace Rules by April 28, 2006, Nasdaq will issue a letter notifying Aradigm that its common stock will be delisted from the NASDAQ National Market. Upon receipt of such written notification, Aradigm may appeal the delisting determination to a NASDAQ Listing Qualifications Panel or move trading to the NASDAQ Small Cap Market.
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