Here is the answer from the quarterly report of a few weeks ago:
On January 8, 2003, our stock was transferred from the NASDAQ National Market to the NASDAQ SmallCap Market. In order to continue to be listed on the NASDAQ SmallCap Market, we must meet specific quantitative standards, including maintaining $2.5 million in shareholders’ equity and a minimum bid price of $1.00 for our common stock. Our shareholders’ equity as of March 31, 2003 totaled $5.1 million; however, the closing bid price of our common stock is below $1.00. We are not in compliance with the minimum $1.00 bid price per share requirement; however, we meet the NASDAQ SmallCap Market’s initial listing requirement of $5 million of shareholders’ equity. Accordingly, we have been provided an additional 180 calendar days, or until September 15, 2003, to regain compliance with the minimum $1.00 bid price per share requirement. If we continue to meet the other core initial listing requirements of the NASDAQ SmallCap Market at the end of this 180-day grace period, we will be granted an additional 90-day grace period to regain compliance with the $1.00 minimum bid price per share requirement
...........................
Pretty hard for me to interpret the recent news, but does
serve as a launch pad for further reading. Regarding hiv
vaccines, I found a IAVI report from earlier in the Spring
has stuff from a Keystone meeting.
iavi.org
Here is a PR from April that I do not even remember
targen.com
I would attribute the rocketing shareprice to the CF trial
and the hot biotech market, very little to the hiv vaccine.
Great news for tgen--yes, it certainly looks like they will
remain listed, and this visibility could means some funding.
Very nice!
fwiw, I stumbled across a private company called VIRxSYS, which
looks similar to Tgen's CellExSys (grr, these annoying names to
type). --expansion of T-cells, then put them back in. They are using
different vectors, but you might want to google around, interesting
stuff. |
