16 Small-Cap Stocks in Danger of Delisting
Company Profile: Bionovo is a clinical-stage drug discovery and development company focusing on women's health and cancer.Current Share Price: 64 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. Bionovo shares last closed above $1 on Jan. 27. Received Nasdaq Notice: March 14 Management's Expected Action: Bionovo has until Sept. 12 to regain compliance with the minimum bid price rule. The company said it intends to use its best efforts to regain compliance with Nasdaq's minimum bid requirement.
Parametric Technology (PMTC) Company Profile: Parametric Technology develops, markets and supports product-development software solutions and related services that help companies design products, manage product information and improve their product development processes. Current Share Price: $21.90 (March 29) Listing Violation: Board independence. The listing rule requires the board of directors to have a majority of members who are independent. Received Nasdaq Notice: March 15 Management's Expected Action: Parametric said the company is conducting a search for an additional member of its board of directors with the intention of appointing the new director "as soon as practicable." After Parametric had an annual meeting of shareholders March 9, the company had an equal number of independent and non-independent directors. The company said it has until Sept. 6 to regain compliance.
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