Avid Bioservices Inc (CDMO)

[jessme]

Looks like De-listing could be a permanent non-issue Friday, April 24, 2009

Your article is almost 4 months old. Nice try . Here's the latest
Wed Jul 15, 2009 2:07pm EDT
The exchange operators extended those rule suspensions a few times over the last several months, but NYSE Euronext (NYX.N)(NYX.PA) and Nasdaq OMX (NDAQ.O) recently told the U.S. Securities and Exchange Commission they will again start enforcing the listing rules Aug. 3. [ID:nN14300532]

With another extension unlikely, as many as 71 Nasdaq-listed companies and 32 NYSE-listed companies that now fall below the threshholds will face delisting next month, according to the latest data from the exchanges.

That is bad news for companies such as NYSE-listed Internet calling company Vonage Holdings Corp (VG.N) and newspaper publisher McClatchy Co (MNI.N), as well as Nasdaq-listed drug company Peregrine Pharmaceuticals (PPHM.O).

The numbers are down from October, when Nasdaq said 344 companies were under the $1 share price rule, and from February, when NYSE said more than 50 listings were about to disappear from the exchange. Nasdaq has some 2,900 U.S. listings, while NYSE has 2,200.

This month, Nasdaq said in a regulatory filing it "does not expect a further extension of the suspension beyond July 31."
Despite the relaxed rules, Nasdaq delisted 72 companies for regulatory noncompliance so far this year, while the Big Board delisted 24.

As part of its latest extension, the NYSE said on June 30 "suitable companies should remain listed during the prior and current period of unusual market volatility." It also permanently lowered its minimum market cap for listings to $15 million from $25 million.

Beyond market cap and share price, listed companies must also adhere to cash flow, earnings, and regulatory requirements, as well as specific qualitative standards.

NYSE listings whose shares fall below $1, on average, for 30 days receive a warning letter from the exchange that sets out a correction timeline. Nasdaq listings receive the letter after 30 straight days below $1. (Reporting by Jonathan Spicer, editing by Matt Daily)
http://www.reuters.com/article/marketsNews/idINN1532890720090715?rpc=44&pageNumber=1&virtualBrandChannel=11584