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GTCB > SEC Filings for GTCB > Form 8-K on 19-Jun-2009All Recent SEC Filings

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Form 8-K for GTC BIOTHERAPEUTICS INC


19-Jun-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Sta


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On June 18, 2009, we received a Staff Deficiency Letter from The Nasdaq Stock Market, or Nasdaq, notifying us that for the last 10 consecutive trading days the aggregate market value of our common stock was below the $35,000,000 minimum market value required for continued listing on the Nasdaq Capital Market, as specified by Marketplace Rule 5550(b)(2).

In accordance with Marketplace Rule 5810(c)(3)(C), we have 90 calendar days, or until September 16, 2009, to regain compliance with the minimum market value requirement. To regain compliance, the market value of our common stock must equal or exceed $35,000,000 for a minimum of 10 consecutive business days or for such longer period that Nasdaq may, in its discretion, require.

If we do not regain compliance with the minimum market value requirement by September 16, 2009, Nasdaq will provide us written notification that our common stock will be delisted. At that time, we may appeal Nasdaq's determination to delist our common stock to a Nasdaq Listings Qualifications Panel. Our common stock would continue to be listed during the appeals process.


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