Delisting: $0.22 now
Trading in NeurogesX Common Stock to Move From NASDAQ to OTCBB
Press Release: NeurogesX – 4 hours ago
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NeurogesX, Inc.
RELATED QUOTES
Symbol Price Change
NGSX 0.22 -0.06
SAN MATEO, Calif., June 29, 2012 (GLOBE NEWSWIRE) -- NeurogesX, Inc. (NGSX), a specialty pharmaceutical company focused on developing and commercializing a portfolio of novel non-opioid, pain management therapies, today announced that it has been notified by The NASDAQ Stock Market (NASDAQ) that trading in the Company's securities will be suspended on NASDAQ effective with the open of trading on Friday, June 29, 2012. On that same date, the Company's common stock will be eligible to trade on the Over the Counter Bulletin Board (OTCBB), a market tier for OTC-traded companies that are registered and current in their reporting obligations with the Securities and Exchange Commission. The Company's trading symbol will remain NGSX.
As previously announced, on April 17, 2012, NASDAQ notified the Company that its securities were subject to suspension and delisting based upon the Company's non-compliance with the $50 million market value of listed securities requirement for continued listing for The NASDAQ Global Market. The Company appealed the determination to a NASDAQ Listing Qualifications Panel and a hearing was subsequently held. However, by letter dated June 27, 2012, the Panel indicated that it had determined not to grant the Company additional time to regain compliance with the continued listing criteria and, accordingly, that NASDAQ would move to suspend and delist the Company's securities from the exchange.
