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.