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GTCB > SEC Filings for GTCB > Form 8-K on 18-Sep-2009All Recent SEC Filings

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Form 8-K for GTC BIOTHERAPEUTICS INC


18-Sep-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 September 17, 2009, we received a notice from The Nasdaq Stock Market, or Nasdaq, notifying us that we have failed to regain compliance with Nasdaq's requirement that the aggregate market value of our common stock be at least $35,000,000, as specified by Marketplace Rule 5550(b)(2), during the 90 day compliance period afforded to us by Marketplace Rule 5810(c)(3)(C).

The notice indicates that unless we request a hearing before a Nasdaq Listings Qualifications Panel, our common stock will be delisted. We intend to request such a hearing, which will defer any action with respect to Nasdaq's determination until the panel renders a decision following the hearing. Our common stock will continue to trade on The NASDAQ Capital Market in the interim. The Nasdaq Listings Qualifications Panel has discretion to grant an extension not to exceed 180 days from the date of Nasdaq's notification. However, there can be no assurance that we will be granted any such extension or that following the hearing the panel will grant our request for continued listing.


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