January 18, 2008
GTC Warned On Sheepish Stock Price
By Matthew L. Brown
Framingham-based GTC Biotherapeutics Inc. has been warned that if its stock doesn't climb to $1, it could be delisted from the Nasdaq Global Market stock exchange.
After 30 days below $1, GTC received a written notice from Nasdaq. According to the notice, GTC must get its stock price to $1 and keep it there for 10 consecutive days by July 15 or risk being delisted.
If the company doesn't get its price to $1 by the July deadline, it may transfer to the Nasdaq Capital Market, where it would be afforded another 180 days to reach compliance with market rules.
GTC develops a protein treatment for blood clots in the milk of genetically modified goats. The company's stock was trading at 80 cents a share this morning.
After 30 days below $1, GTC received a written notice from Nasdaq. According to the notice, GTC must get its stock price to $1 and keep it there for 10 consecutive days by July 15 or risk being delisted.
If the company doesn't get its price to $1 by the July deadline, it may transfer to the Nasdaq Capital Market, where it would be afforded another 180 days to reach compliance with market rules.
GTC develops a protein treatment for blood clots in the milk of genetically modified goats. The company's stock was trading at 80 cents a share this morning.
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