Hemosol stock falls below $1 minimum for Nasdaq listing

By E. Janene Geiss

Philadelphia, Nov. 7 - Hemosol Corp. announced Monday that it received notification Nov. 3 from the Nasdaq Stock Market indicating that for the previous 30 consecutive business days its bid price of its common stock closed below the minimum $1 per share requirement for continued inclusion under Nasdaq's Marketplace Rule 4450(b)(4).

As a result, Nasdaq gave Hemosol 180 days, or until May 2, to regain compliance by having its shares close above $1 for a minimum of 10 consecutive trading days, according to a company news release.

If Hemosol does not regain compliance by May 2, Nasdaq will issue a letter notifying the company that its common stock will be delisted. Hemosol may appeal the determination to delist its common stock to a Listings Qualifications Panel, officials said.

Hemosol is a Toronto-based biopharmaceutical developer and manufacturer of biologics, particularly blood-related protein-based therapeutics.

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