MZT Holdings (Newton, Massachusetts), f/k/a/ Matritech, said that it has not arranged for listing and/or registration on another national securities exchange or for quotation of its common stock in any interdealer quotation system or electronic communications network after the effective date of the withdrawal of its common stock from listing on the Amex. MZT previously announced its intention to seek voluntary delisting of its common stock from Amex, as it does not meet the continued listing standard of Amex. MZT Holdings expects its delisting from Amex will become effective in early January.
Biopure gets Nasdaq letter
Biopure (Cambridge, Massachusetts) said that it received notice from Nasdaq that its closing bid price had fallen and remained below $1 for 30 consecutive business days. As a result, Biopure is out of compliance with Nasdaq's $1 minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4).
The company, in accordance with Marketplace Rule 4310 (c)(8)(D), has 180 calendar days or until June 11, 2008, to regain compliance by having the bid price of its common stock close at $1.00 per share or more for at least 10 consecutive business days. If the company does not regain compliance by June 11, 2008, Nasdaq will determine whether the company meets the initial listing criteria set forth in Marketplace Rule 4310 (c), except for the bid price requirement.
Biopure makes pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body's tissues.