Sunesis Pharmaceuticals (SNSS)

[mlkrborn]

Listing extension
SOUTH SAN FRANCISCO, Calif. (AP) -- Sunesis Pharmaceuticals Inc. said Wednesday it received a six-month extension for regaining compliance with the Nasdaq Capital Market's $1 per share minimum price rule.

The South San Francisco, Calif., company has until March 28 to regain compliance by maintaining a closing stock price of at least $1 for a minimum of 10 consecutive business days.

Sunesis is a biopharmaceutical company developing cancer drugs.

Nasdaq first notified the company last spring that it was not in compliance, and Sunesis initially faced a Sept. 27 deadline for that rule. But it received the extension until March because it met all other Nasdaq Capital Market initial listing criteria.

The closing price of the company's stock has consistently fallen below $1 since late April. Sunesis shares fell two cents, or 4.7 percent, to 42 cents in late Wednesday morning trading.