EpiCept faces possible Nasdaq delisting

By Elaine Rigoli

Tampa, Fla., Sept. 22 - The Nasdaq Listings Qualification Department has notified EpiCept Corp. that it does not comply with the continued listing requirements of the Nasdaq Global Market because the market value of the company's listed securities has fallen below $50 million for 10 consecutive days.

Nasdaq also informed the company that it is not in compliance with its rules requiring total assets and total revenue of $50 million each for the most recently completed fiscal year or two of the last three most recently completed fiscal years.

The Englewood Cliffs, N.J., pharmaceutical company will have 30 calendar days, or until Oct. 20, to regain compliance.

If the company does not regain compliance by that date, EpiCept will have the right to appeal a determination to delist the company's securities.

The company's securities would remain listed until the completion of this appeal process.

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