LeMaitre Vascular (Burlington, Massachuetts), a maker of peripheral vascular devices and implants, said that it received a letter from Nasdaq indicating that it no longer complies with the market's independent director and audit committee requirements as set forth in Nasdaq Marketplace Rule 4350.
On July 24, David Gill resigned as an independent director of the company. Because of this resignation, the company is not in compliance, which requires that a majority of the company's board to be independent directors, or Marketplace Rule 4350(d)(2)(A), which requires that the company's audit committee have at least three members, each of whom must be independent.
Nasdaq has provided the company with a cure period until the earlier of the company's next annual shareholders meeting or July 24, 2009, or if the next annual shareholders meeting is held before Jan. 20, 2009, then it must evidence compliance no later than that date.
InterGenetics adds OncoVue distribution
InterGenetics (Oklahoma City, Oklahoma) reported the addition of 14 new clinical sites in nine new states for the distribution of OncoVue, the first broadly applicable genetics-based breast cancer risk test. OncoVue uses both gene-based information and personal history measures to determine a woman's future risk of developing breast cancer.
"OncoVue is an essential tool to help a woman understand her risk of developing breast cancer far in advance of the disease, so she and her physician can consider prevention and early detection strategies," said Craig Shimasaki, InterGenetics' CEO/president. "Distributing this test only through selected breast care centers around the country maintains the integrity of the early detection process under the specialized care of breast disease experts."
The OncoVue test is easy for a woman to perform. First, she answers a simple medical history questionnaire, then swishes a commercial mouthwash and deposits the wash into a tube. In the laboratory, DNA from the woman's cheek cells is analyzed, along with the data from the questionnaire to assign a numeric score that represents her risk of developing breast cancer at different stages of her life.