NexMed to appeal Nasdaq delisting

By Lisa Kerner

Charlotte, N.C., July 3 - Nasdaq has notified NexMed, Inc. that it has not regained compliance with requirements for continued listing, because the market value of its common stock has remained below the required minimum of $50 million.

NexMed said it has filed a request to appeal Nasdaq's determination, allowing its stock to continue to trade on the Nasdaq National Market.

Located in East Windsor, N.J., NexMed is a drug development company specializing in transdermal treatments.

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