Applied Spine to move headquarters
Applied Spine Technologies (Rocky Hill, Connecticut) reported plans to relocate the company to Rocky Hill and close the New Haven, Connecticut office.
"Early in the company's life we had a real need to be in New Haven, more specifically near Yale University where our product evolved from, and we have enjoyed a terrific relationship with Yale developing the technology that ultimately became our Stabilimax system. But the new facility in Rocky Hill will allow us to expand, grow, and reach our objectives, offering us the chance to consolidate our three former separate office spaces into one purpose-fitted unit. This will be significantly more efficient for our team and result in a far more comfortable working environment," said CEO Craig Corrance.
Encorium Group gets staff deficiency notice
Encorium Group (Berwyn, Pennsylvania), a clinical research organization (CRO), said it received a staff deficiency letter from The Nasdaq Stock Market. The Nasdaq Letter states that for the last 30 consecutive business days, the closing bid price per share for the company's common stock has been below the $1 minimum per share requirement for continued inclusion under Nasdaq Marketplace Rule 5550(a)(2).
The company will be provided 180 calendar days, or until March 15, 2010, to regain compliance by maintaining a closing bid price per share of $1 or higher for a minimum of 10 consecutive business days. If the company is unsuccessful in meeting the minimum bid requirement during this initial compliance period, the company will receive written notification from Nasdaq that its securities are subject to delisting, and at that time the company may appeal the delisting determination to a hearing's panel.
Vetter to open new facility in Chicago
Vetter (Ravensburg, Germany), a maker of aseptically pre-filled injection systems, said it will open Vetter Development Service (VDS), a customer service facility located in Chicago. Using its technology, Vetter said it will be capable of aseptically filling very small quantities of products in the new facility, providing faster and more streamlined product delivery and customer service.