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Print Edition StoriesMonday, December 3, 2007
Oscient gets delisting stay from Nasdaq
Oscient Pharmaceuticals Corp. reports it has been granted permission to continue listing its stock on the Nasdaq Global Market.
The Nasdaq Listing Qualifications Panel granted the drug maker's request to continue listing on the exchange, subject to Oscient reporting $50 million in revenue and $50 million in total assets for 2007 in financial statements next year.
As of Sept. 30, Oscient had recorded $54.7 million in revenue during 2007 and total assets of $282 million. Company officials report they expect the company to meet the qualifications set by the Nasdaq panel for continued listing on the exchange.
Waltham-based Oscient reported a 2006 net loss of $78.5 million on revenue of $46.2 million. The company employs 336 people.
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