NeoRx regains compliance with Nasdaq requirement

By Jennifer Chiou

New York, Sept. 27 - NeoRx Corp. said it received a letter from the Nasdaq Stock Market informing the company it has regained compliance with the Nasdaq SmallCap Market's $1.00 minimum bid price requirement.

The company's stock was able to maintain a closing bid price of $1.00 per share or greater for at least 10 consecutive trading days.

On May 12, NeoRx received a notice from Nasdaq indicating it was not in compliance with its minimum closing bid price rule due to its stock closing below $1.00 for 30 consecutive trading days. After the notice, the company had until Nov. 8 to regain compliance.

NeoRx is a Seattle cancer therapeutics development company. It has picoplatin (NX 473) for small-cell lung cancer.

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