KERX selling off some on this news....hmmmmm, doesn't make much sense.
Keryx Biopharmaceuticals Inc. Regains Compliance With NASDAQ Listing Requirements
NEW YORK, June 17 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (NASDAQ:KERX) announced today that the Company has received a letter from The NASDAQ Stock Market confirming that it has regained compliance with the minimum bid price requirement for continued listing on The NASDAQ Capital Market under Listing Rule 5550(a)(2) and that the matter is now closed.
The Company also received a letter from the NASDAQ Listing Qualifications Hearings Panel confirming that it has demonstrated a market value of listed securities over the required minimum of $35 million for 10 consecutive trading days, for continued listing on The NASDAQ Capital Market under Listing Rule 5550(b)(2), and that the Panel has determined to continue the listing of the Company's securities on The NASDAQ Stock Market.
The Company's stock continues to be listed on the NASDAQ Capital Market and its ticker symbol of KERX remains unchanged.
"We are pleased to have regained compliance with all the NASDAQ Capital Market listing requirements," stated Ron Bentsur, Chief Executive Officer of Keryx Biopharmaceuticals. "We believe this represents an important step in building value for our stockholders."
About Keryx Biopharmaceuticals, Inc.
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