IGI Laboratories Inc. says it will be submitting a compliance plan to the New York Stock Exchange's Amex division to satisfy a threatened delisting.
The Buena, Atlantic County, maker of products for pharmaceutical and cosmetics companies says it was notified May 25 about two issues: stockholders' equity was below $6 million and the company reported continuing and net losses for the last five fiscal years.
For the quarter ended March 31, stockholders' equity was reported as $5.78 million.
The company said it faced a shorter deadline, June 24, because it had been in noncompliance previously, having satisfied the earlier terms last June.
Shares finished the day at 2/10ths of a cent below $1. - Roslyn Rudolph