Genaera Corporation
Genaera Receives Non-Compliance Notice from Nasdaq
Published in Healthcare Finance, Tax and Law Weekly, June 10th, 2009
Genaera Corporation ("the Company") (NASDAQ:GENR) announced that it has received notification from Nasdaq stating that Genaera is no longer in compliance with Nasdaq Marketplace Rule 5250(c)(1) for continued listing because the Company has not yet filed its Form 10-Q for the period ended March 31, 2009. Under Nasdaq rules, the Company has 60 calendar days from the date of the Nasdaq notification letter to submit a plan to regain compliance with Nasdaq's continued listing requirements.
Genaera previously announced on April 28, 2009 that its Board of Directors approved a Plan of Complete Liquidation and Dissolution of the Company (the "Plan of Dissolution"), subject to...
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