Company Profile: Agenus is a biotechnology company developing and commercializing technologies to treat cancers and infectious diseases, based on immunological approaches.Current Share Price: 91 cents (March 29) Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. Agenus shares last closed above $1 on Jan. 18. Received Nasdaq Notice: March 3 Management's Expected Action: Agenus has until Aug. 30 to regain compliance with the bid price requirement. The company did not offer a plan for regaining compliance with the rule, but noted it may be eligible for an additional 180 days to regain compliance with the bid price rule, assuming it continues to meet the Nasdaq Capital Market's initial listing criteria.
Brooklyn Federal Bancorp (BFSB) Company Profile: Brooklyn Federal operates as the holding company for Brooklyn Federal Savings Bank, which provides various banking products and services in Brooklyn, Nassau, and Suffolk, New York Current Share Price: 66 cents (March 29) Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. Brooklyn Federal shares last closed above $1 on Jan. 19. Brooklyn Federal has been hit with several delisting warnings over the past few months, relating to its market value of publicly held shares and delinquency in filing its 10-K for the quarter ended Sept. 30 and 10-Q report. Received Nasdaq Notice: March 7 Management's Expected Action: The company has until Sept. 6 to regain compliance with the minimum bid price requirement. Brooklyn Federal said the filings of its 10-K and 10-Q have been delayed due to the resignation of the company's independent registered public accounting firm on Dec. 20. The audit committee engaged a new registered public accounting firm, but it has completed only the initial stages of the 10-K audit. Meanwhile, Brooklyn Federal has until July 11 to regain compliance with the requirement for a minimum market value of publicly held stock of $5 million.