Branford-based CuraGen Corp., a biopharmaceutical company focused on oncology, has received a letter from Nasdaq, telling the company that in the last 30 days of trading, CuraGen’s stock has been below the required minimum bid per share of $1.00.
The letter has no immediate effect on the listing of CuraGen’s common stock.
CuraGen has 180 calendar days, or until March 23, 2009, to regain compliance with the minimum bid price requirement. If the company is unsuccessful in meeting the minimum bid requirement during this initial 180-day period, CuraGen’s common stock will be delisted from Nasdaq. The company may apply to transfer its common stock to the Nasdaq Capital Market if CuraGen several criteria.
CuraGen is considering alternatives to regain compliance with the continued listing requirements, the company reported.
