GTC Takes Step Toward Nasdaq Compliance
GTC Biotherapeutics of Framingham has regained compliance with one of the market rules that got the company temporarily suspended from the Nasdaq stock market in the fall.
The company said it had raised its market capitalization to above $35 million for 10 consecutive trading days, bringing it back into compliance with a Nasdaq rule that stipulates as much. GTC has until July 20 to regain compliance with the Nasdaq's minimum $1 bid price rule.
The Nasdaq warned the company in November that it would be delisted if it was unable to comply with those market requirements.
GTC said it expects a favorable regulatory review and commercial launch of its ATryn product in the United States soon.
GTC is developing an anti-clotting protein produced in the milk of genetically modified goats.
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