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Biotech Business
Spherix Receives Nasdaq Letter Extending Minimum Bid Price Compliance Period
November 8th, 2008
Spherix Incorporated (NASDAQ:SPEX) reported that on October 22, 2008, it received written notification from Nasdaq advising the Company that, because of the current instability in the financial markets, Nasdaq has suspended enforcement of the bid price and market value requirements for continued listing on its Global Market. The suspension period will be in effect from October 16, 2008 through January 16, 2009. The Nasdaq notice provides that all companies currently in a bid price or market value compliance period, such as Spherix (see Spherix's 7/23/08 press release), will not be subject to delisting during the suspension period and will be granted an extended compliance period....
Source: Law & Health Weekly (2008-11-08)
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