Macrochem delisted from Nasdaq National Market after withdrawing appeal

By Ted A. Knutson

Washington, Nov. 22 - Macrochem Corp. will be delisted from the Nasdaq National Market on Tuesday after withdrawing its appeal of a delisting notification Friday, the company said in a news release.

Macrochem had received a Nasdaq Staff Determination on Oct. 18 indicating that the company did not comply with the minimum bid price requirement for continued listing.

The company's shares are eligible for trading on the Pink Sheets under the same ticker symbol, "MCHM."

The company said it will seek to have its common stock quoted on the NASD over-the-counter Bulletin Board.

Macrochem is a Lexington, Mass.-based biopharmaceutical company.

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