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| INHX > SEC Filings for INHX > Form 8-K on 25-Mar-2009 | All Recent SEC Filings |
25-Mar-2009
Other Events
On March 24, 2009, Inhibitex, Inc. (the "Company") received written notification that NASDAQ had extended the suspension of the enforcement of the rules requiring a minimum $1 closing bid price and a minimum market value of publicly held shares. NASDAQ has said that it will not take any action to delist any security for these concerns during the suspension period. Unless extended again, the enforcement of these rules will resume on Monday, July 20, 2009. As a result of this extension, the Company now has until October 12, 2009 to regain compliance with the minimum bid price rule. The Company previously had until July 9, 2009 to regain such compliance.
As a result of the extension of the suspension, if, at any time before October 12, 2009, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that the Company has achieved compliance with the minimum bid price rule.
If the Company does not regain compliance with the minimum bid price rule by October 12, 2009, NASDAQ will provide written notification that the Company's securities will be delisted. At that time, the Company may appeal NASDAQ's determination to delist its securities to a Listing Qualifications Panel.
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