Nexell Receives Delisting Notice
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Nexell Therapeutics Inc. said its shares would be delisted from the Nasdaq National Market on Tuesday for failing to meet continued listing rules on minimum bid and market capitalization.
The company said it believes its shares would be eligible for quoting on the over-the-counter Bulletin Board.
The Irvine-based biotechnology company said in May that it had received a Nasdaq delisting warning.
Shares of Nexell closed at 11 cents, down 6 cents, or 35%.
When the shares closed at 17 cents on Tuesday, they were up 10 cents, or nearly 143%, on the day.
Nexell has seen its shares fall about 30% in the last four weeks and about 95% this year.
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