June 22, 2009
GTC Again Out Of Nasdaq Compliance
By Matthew L. Brown
The market value of GTC Biotherapeutics Inc.'s stock has again spent 10 days at less than $35 million and out of compliance with Nasdaq Stock Market rules.
The Framingham-based company said Friday that it had received a staff deficiency letter from the Nasdaq and that it has until Sept. 16 to bring its market value back to at least $35 million for 10 consecutive days. If GTC fails to do so, it could request an extension from a Nasdaq listing qualifications panel.
GTC only regained compliance with the $35 million market value rule in May after falling out of compliance in the fall and being temporarily suspended from the Nasdaq.
For the first quarter, the company reported a $10.4 million net loss on revenue of $200,000.
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