Holliston Pharmacy Firm Warned By Nasdaq
The Nyer Medical Group Inc. of Holliston may be delisted by the Nasdaq stock market in March if it cannot bring its stock's bid price up to $1 for 10 consecutive business days.
The company was warned by the Nasdaq in a letter Monday. If Nyer does not bring the bid price of its stock up to $1 for 10 days by the March 15 deadline, it faces delisting. Nyer's stock has had a closing bid price of less than $1 for 30 consecutive business days, in violation of Nasdaq listing rules.
Nyer said that if it can show the Nasdaq that it meets all listing requirements except for the bid price rule, the stock market may grant the company an additional 180 days to regain compliance.
Nyer is a holding company that operates pharmacies and pharmacy management services to nonprofit agencies in the Greater Boston area.
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