Thursday, March 26, 2009

Somaxon Gets Nasdaq Warning

San Diego-based Somaxon Pharmaceuticals, a specialty pharmaceuticals firm in the central nervous system therapeutic area, said Thursday afternoon that the firm has received a warning from the Nasdaq Stock Market. The warning--which is a prelude to delisting--said that the firm did not comply with a minimum $10M stockholder's equity requirement for the exchange. The firm said that it has until April 13th to provide a plan to regain compliance and maintain its listing on the Nasdaq Global Market. According to the firm, it has the option of applying to list its securities on the Nasdaq Capital Market.

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