EPIX says $100 million of convertibles may be due after non-compliance with Nasdaq

By Jennifer Chiou

New York, March 12 - EPIX Pharmaceuticals, Inc. announced that its $100 million of outstanding convertible debt will become due if it cannot regain compliance with the continued listing requirements of Nasdaq.

The company said that it has until May 11 to regain compliance with Nasdaq Marketplace Rule 4450(b)(1)(A), which requires the company to maintain a shareholders' equity of at least $10 million or a minimum market value of listed securities of $50 million.

EPIX noted that it is taking steps to comply; however, there can be no assurance that the company will be able to do so.

EPIX is a biopharmaceutical company based in Lexington, Mass.

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