Axonyx in danger of being delisted from Nasdaq

By Ted A. Knutson

Washington, Dec. 22 - Axonyx Inc. said it received notice Wednesday from The Nasdaq Stock Market, Inc. that the minimum bid price of the company's common stock had fallen below $1.00 for 30 consecutive business days in violation of Nasdaq rules.

The company has until June 19, 2006 to regain compliance. If compliance is not achieved by then, Axonyx will be eligible for an additional 180-day compliance period if it meets the Nasdaq SmallCap Market initial listing criteria, other than the minimum bid price requirement.

If the company is not eligible for an additional compliance period, or does not regain compliance during any additional compliance period, Nasdaq will provide written notice to the firm that its securities will be delisted.

The New York-based company develops drugs for Alzheimer's disease.

The announcement was made in an 8-K filing with the Securities and Exchange Commission.

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