SIGA Reports on Correspondence from NASDAQ
2/3/2006 3:24:01 PM
NEW YORK, Feb 03, 2006 (BUSINESS WIRE) -- SIGA Technologies, Inc. (SIGA) disclosed today that on January 31, 2006, it received notice from the Nasdaq Stock Market ("NASDAQ") that for the past 30 consecutive business days, the bid price of the SIGA's common stock has closed below the $1.00 per share minimum requirement for continued inclusion on the Nasdaq SmallCap Market under Marketplace Rule 4310(c)(4). In accordance with Marketplace Rule 4310(c)(8)(D), SIGA will be provided with 180 calendar days, until July 31, 2006, to regain compliance with the minimum bid requirement. If, at any time before July 31, 2006, the bid price of the SIGA's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide SIGA with written notification that it now complies with Marketplace Rule 4310(c)(4). SIGA intends to monitor the bid price between now and July 31, 2006, and consider available options if its common stock does not trade at a level likely to result in SIGA regaining compliance with the minimum bid requirement.
About SIGA Technologies, Inc.
SIGA Technologies is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. SIGA has the potential to become a significant force in the discovery of vaccine and pharmaceutical agents to fight emerging pathogens. SIGA's product development programs emphasize the increasingly serious problem of drug resistant bacteria. In addition to smallpox, SIGA has antiviral programs targeting other Category A viral pathogens, including arenaviruses (Lassa fever, Junin, Machupo, Guanarito, Sabia, and lymphocytic choriomeningitis), dengue virus, and the filoviruses (Ebola and Marburg).
For more information about SIGA, please visit SIGA's Web site at www.siga.com. |
