Business
BELLUS Health Receives Nasdaq Deficiency Notice Relating to Market Value
LAVAL, QC, Oct. 15 /CNW Telbec/ - BELLUS Health Inc. (NASDAQ: BLUS; TSX: BLU) announces that it r...
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nLAVAL, QC, Oct. 15 /CNW Telbec/ - BELLUS Health Inc. (NASDAQ: BLUS;\nTSX: BLU) announces that it received a Nasdaq Staff Deficiency Letter dated\nOctober 10, 2008, stating that, for 10 consecutive trading days, the market\nvalue of the Company's listed securities has been below the minimum\n$50 million requirement for continued inclusion on The Nasdaq's Global Market\nunder Marketplace Rule 4450(b)(1)(A). The Company believes that the recent\ndecline in its market value is due to the general pressure on equity markets\nworldwide.\n\n\nIn accordance with Marketplace Rule 4450(e)(4), the Company has\n30 calendar days, or until November 10, 2008, to regain compliance to which\nBELLUS Health will strive towards. If the market value of the Company's common\nstock is US$50,000,000 or more for a minimum of 10 consecutive business days\nat any time prior to November 10, 2008, Nasdaq may determine that the Company\nhas regained compliance with the applicable listing requirements. If\ncompliance with the Rules cannot be demonstrated by November 10, 2008, Nasdaq\nwill provide written notification that the Company's securities will be\ndelisted, at which time the Company may appeal the determination to a Listing\nQualifications Panel.\n\n\nAmong other alternatives the Company is considering if it cannot regain\ncompliance with the requirements of The Nasdaq's Global Market as set forth\nabove, is applying to transfer its securities to The Nasdaq Capital Market.\nCurrently, the Company believes that it meets the criteria to transfer to The\nNasdaq Capital Market. However, there can be no assurance that Nasdaq will\napprove the Company's transfer application.\n\n\nThe Company's common stock is also listed on the Toronto Stock Exchange\n(TSX) and such listing is not affected by the notice received from Nasdaq.\n\n\nAbout BELLUS Health\n\n\nBELLUS Health is a global health company focused on the development and\ncommercialization of products to provide innovative health solutions to\naddress critical unmet medical needs.\n\n\nTo Contact BELLUS Health\n\n\nFor additional information on BELLUS Health and its drug development\nprograms, please call the Canada and United States toll-free number\n1-877-680-4500 or visit the Web Site at www.bellushealth.com.\n\n\nCertain statements contained in this news release, other than statements\nof fac...