Celsion gets Amex noncompliance notice

By Elaine Rigoli

Tampa, Fla., Sept. 6 - Celsion Corp. said it has received notice from The American Stock Exchange explaining that the company is not in compliance with certain conditions for continued listing.

Specifically, the Amex noted that the company's shareholders' equity continues to be less than $4 million and losses from continuing operations and/or net losses were incurred in three of the last four fiscal years, and that shareholders' equity was less than $6 million and losses from continuing operations and/or net losses were incurred in each of the last five fiscal years.

Additionally, as of June 30, the company's shareholders' equity was less than $2 million and losses from continuing operations and/or net losses were incurred in two of its three most recent fiscal years, according to a news release.

Celsion, based in Columbia, Md., is a biotechnology company.

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