Anesiva, Inc. (Anesiva), a biopharmaceutical company, has received a letter on September 24, 2009 from The NASDAQ stock market, dated September 17, 2009. The notification letter stated the minimum closing bid price of Anesiva's common stock was below $1.00 per share for 30 consecutive business days and that therefore Anesiva was not in compliance with Listing Rule 5450(a)(1).
The notification letter has no effect at this time on the listing of Anesiva’s common stock on The NASDAQ Global Market and Anesiva’s common stock will continue to trade on The NASDAQ Global Market under the symbol ANSV.
The notification letter states that Anesiva will be afforded 180 calendar days, or until March 16, 2010, to regain compliance with the minimum closing bid price requirement. To regain compliance, the closing bid price of Anesiva’s common stock must meet or exceed $1.00 per share for at least ten consecutive business days. If Anesiva demonstrates an ability to maintain long-term compliance, Nasdaq will provide written confirmation of compliance and the matter will be closed.
If Anesiva does not regain compliance by March 16, 2010, NASDAQ will provide written notification to Anesiva that its common stock may be delisted. At that time, Anesiva may appeal Nasdaq’s delisting determination to a Nasdaq listing qualifications panel.