Accentia Biopharm clarifies Nasdaq notice

Florida, USA-based Accentia Biopharmaceuticals says that it received notice from the Nasdaq Stock Market, notifying the company that it is not in compliance with Nasdaq Rule 4450(b)(1)(A), which requires a listed security to maintain a minimum $50.0 million market capitalization for continued trading on that market.

Subsequent to receipt of this notice, Accentia says market capitalization has regained a value in excess of $50.0 million. In order to demonstrate compliance with Rule 4450(b)(1)(A), Accentia needs to maintain this minimum market value for at least 10 consecutive business days before May 15. This notice has no immediate effect on the listing of Accentia, and company's common stock will continue to trade on the Nasdaq Global Market.