|
|
Article: The Daily Record News Briefs: December 23, 2008
- Article from:
- The Daily Record (Baltimore)
- Article date:
- December 23, 2008
CopyrightCopyright 2008 The Daily Record (Baltimore). Provided by ProQuest LLC. (Hide copyright information)
|
Avalon gets deadline delay
Avalon Pharmaceuticals Inc., of Germantown, which is developing
treatments for cancer, said it has been granted an extension by the
Nasdaq Stock Market of a possible delisting action. On Nov. 25,
Avalon was notified by Nasdaq officials that its stockholders'
equity was not in compliance with a minimum $10 million requirement
for listing on Nasdaq's Global Market. Avalon said the new deadline
is March 5. By that time the company must either complete a proposed
merger with a subsidiary of Clinical Data Inc. or file a report with
Nasdaq and the Securities and Exchange Commission showing, among
other things, how the company has satisfied the stockholders' equity ...