ImaRx stock in danger of being delisted
ImaRx Therapeutics Inc. just barely went public last year and already the biotechnology is getting a warning from Nasdaq that its stock price is too low, and it is in danger of being delisted.
The Tucson company's stock was trading at 55 cents per share April 11. Its 52-week high and low is $4.75 and 24 cents, respectively.
ImaRx (Nasdaq: IMRX) announced April 11 it received a letter from Nasdaq that said the bid price of its common stock has closed below $1 for the past 30 consecutive days.
Now the company has until Oct. 8 to regain compliance. That can happen if ImaRx's stock price rises above $1 a share for a minimum of 10 consecutive business days quick payday loans. If that doesn't happen, there are other ways Nasdaq said ImaRx can demonstrate it meets other criteria and could get an additional 180 days to regain compliance.
Phoenix-based Zila Inc. (Nasdaq: ZILA) received the same warning from Nasdaq last month. Its stock is trading around 33 cents a share. Its 52-week high and low is $2.09 and 16 cents, respectively.