Ostex waits on Nasdaq delisting hearing:
This article was originally published in Clinica
Executive Summary
Seattle, Washington-based Ostex is to appear before a Nasdaq listing qualifications panel in the hope that it may overturn its March 18 delisting decision until its planned merger with Inverness Medical Innovations (see Clinica No 1047, p 17) is closed or terminated is expected. This to occur during the second quarter of 2003. Nasdaq's decision to delist the company, a developer and commercialiser of disease management products, was based on it failing to satisfy the minimum $10m stockholders equity requirement. If the review is unsuccessful, Ostex will have to seek a listing on the OTC bulletin board or similar.