TORONTO, Dec. 29, 2010 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (Nasdaq:IPCI) (TSX:I), a pharmaceutical company specializing in the research, development and manufacture of novel or generic controlled release and targeted release oral solid dosage drugs, today announced that the staff of the Nasdaq Stock Market (the "Staff") has granted the Company an extension of the deadline to regain compliance with Nasdaq Listing Rule 5550(b), which requires companies listed on the Nasdaq Capital Market to maintain a minimum of $2,500,000 in shareholders' equity, $35,000,000 in market value of listed securities or $500,000 in net income from continuing operations. Under the terms of the extension, the Company must complete certain transactions on or before January 31, 2011 and demonstrate compliance with Listing Rule 5550(b) prior to March 1, 2011.
Intellipharmaceutics Receives Extension Of NASDAQ Compliance Deadline
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