Matritech (Newton, Massachusetts), a developer of protein-based diagnostic products for the early detection of cancer, reported that the American Stock Exchange notified it that it is not in compliance with certain continued listing standards, including shareholders' equity of less than $2 million and losses from continuing operations and/or net losses in two of its last three most recent fiscal years; shareholders' equity of less than $4 million; and losses from continuing operations and/or net losses in three of its four most recent fiscal years and shareholders' equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.

The company can submit a compliance plan by Oct. 23 advising of the action it has taken, or will take, to bring it into compliance no later than March 21, 2008.

If Amex accepts the plan, the company may be able to continue its listing during the plan period of up to 18 months, and the company will be subject to periodic review. If Amex does not accept the plan, or if Matritech does not make progress, or is not in compliance with listing standards at the end of the plan period, Amex may initiate delisting. Matritech said it intends to submit a plan prior to Oct. 23.