March 9, 2009
Marlborough Cancer Firm Out Of Nasdaq Compliance
By Matthew L. Brown
Marlborough-based cancer screening technology firm Exact Sciences Corp. has fallen out of compliance with the Nasdaq Stock Market's market value and stockholders' equity rule.
The company said it received a notification letter from the Nasdaq Friday, but that it has 90 days to regain compliance with the market rule. The rule requires companies to maintain a minimum market value of $35 million and stockholders' equity of $2.5 million in order to continue being listed on the Nadaq.
In order to regain compliance, the company must maintain the required market value for 10 consecutive business days or achieve stockholders' equity of $2.5 million.
If Exact fails to regain compliance, it will be subject to delisting pending appeal.
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