Tengion shares face delisting
Tengion Inc., an East Norriton biotech company, said today it received notice that it is in danger of being delisted from the Nasdaq global market stock exchange because the shares' closing bid price was less than $1 for the last 30 consecutive business days.
Tengion Inc., an East Norriton biotech company, said today it received notice that it is in danger of being delisted from the Nasdaq global market stock exchange because the shares' closing bid price was less than $1 for the last 30 consecutive business days.
The company has six months to fix the problem by having 10 straight days with a closing price of $1 or more.
Tengion company said it will consider all options to regain compliance with the Nasdaq minimum bid price requirements, while also exploring other options for the listing of its common stock. The shares were trading at 46 cents this afternoon, down about a penny for the day and down from a 52-week high in February of $5.51. -David Sell