IGI Granted Listing Extension
IGI Laboratories, Inc. (NYSE Amex: IG). On May 25, 2010, IGI received notice from the NYSE Amex staff indicating that the Company is below certain of the Exchange’s continued listing standards due to losses in five of its most recent fiscal years with equity below $6 million, as set forth in Section 1003(a) (iii) of the NYSE Amex Company Guide. The Company was afforded the opportunity to submit a plan of compliance to the exchange and on June 24, 2010 presented its plan to the Exchange. On August 6, 2010 the Exchange notified IGI that it accepted the Company’s plan of compliance and granted IGI an extension until February 25, 2011 to regain compliance with the continued listing standards. IGI will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in IGI being delisted from the NYSE AMEX LLC.
About IGI Laboratories, Inc.
IGI Laboratories is focused in the development and commercialization of products for the dermatology market.
IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as " will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
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