Isolagen in danger of AMEX delisting
Isolagen Inc., the Exton-based biotechnology firm that develops skin-care products, said it remains in danger of losing its listing on the American Stock Exchange, after the exchange last week rejected a company plan for meeting listing requirements.
Isolagen Inc., the Exton-based biotechnology firm that develops skin-care products, said it remains in danger of losing its listing on the American Stock Exchange, after the exchange last week rejected a company plan for meeting listing requirements.
The company received a non-compliance notice from the AMEX on March 12, and submitted its compliance plan on April 14.
Isolagen said in a statement Friday that it intends to appeal the latest AMEX decision and will request a hearing before an exchange committee.
There is no guarantee the listing will be continued after such a hearing, the company said.
According to Isolagen, it violates, among other things, an AMEX requirement that it have net worth of at least $2 million if it has had continuing operations or net losses in two of the last three years.
Company shares, which trade under the symbol ILE, were priced at 57 cents in afternoon trading. In the last year, the share price has ranged from 27 cents to $4.70.