14 Penny Stocks Get Delisting Warning
StemCells (STEM) shares have failed to close above $1 since June 28, although the stock has seen a recent spike in trading volume after a U.S. District Court injunction that stops an expansion of federal funding for research involving stem cells. The court ruled that research involving stem cells derived from embryos violates a 1996 law that prohibits research where embryos would be destroyed.
Company Profile: StemCells is engaged in the research, development, and commercialization of stem cell therapeutics. The company is based in Palo Alto, Calif., and employees 75 people.
Closing Price: 79.5 cents (Sept. 1)Three-Month Stock Performance: -22.1% Received Nasdaq Notice: Aug. 18 Management's Expected Action: StemCells said in a regulatory filing it has been given until Feb. 8 to regain compliance with the Nasdaq's bid price requirement. StemCells said it "will continue to monitor the closing bid price for its common stock and consider its available options to regain compliance," which it says may include applying for an extension of the compliance period or an appeal to a Nasdaq Listing Qualifications Panel.
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