Cardiovascular Business Week
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Cardima, Inc.
Microcatheter systems developer receives notice from Nasdaq regarding bid price
December 7th, 2004
Cardima, Inc., (Nasdaq SC: CRDM) reported that it has received written notice from Nasdaq that, in accordance with Nasdaq Marketplace Rule 4310(c)(8)(D), the company was provided an additional 180 days, or until May 5, 2005, to regain compliance with the Nasdaq rule requiring a $1.00 minimum closing bid price for the company's common stock. Earlier Nasdaq staff had notified Cardima that the bid price of its common stock had closed at less than $1.00 per share over the previous 30 consecutive business days, and, as a result, did not comply with Marketplace Rule 4310(c)(4) (Rule). Therefore, in accordance with Marketplace Rule 4310(c)(8)(D), the company was provided 180...
Source: Cardiovascular Business Week (2004-12-07)
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