GTC Biotherapeutics hit by third Nasdaq delisting notice

By Mass High Tech staff

Video Gallery

MHT's Julie Donnelly: Life science startups finding investments

MHT's Marc Songini: Technology to keep seniors healthy

MHT's Marc Songini: Mass. bio firms prep for lifting of stem cell ban

OncoPep licenses cancer vaccine, moves to add $500K to Series A [February 13, 2012]

Spin Transfer whips up $36M in first round [February 13, 2012]

Oxford Immunotec taps Altieri as CFO [February 13, 2012]

SeraCare selling to Linden for $82M [February 13, 2012]

GTC Biotherapeutics Inc., a developer of drug therapies derived from animal proteins, has received a third delisting notice from the Listing Qualifications Staff of the Nasdaq Stock Market. In response, the company has requested a hearing before the listing panel. In the meantime, GTC common stock will trade on the Nasdaq Capital Market.

According to listing rules, Nasdaq requires compliance with the minimum $35 million value of publicly traded common stock.

GTC (Nasdaq: GTC) received its first Nasdaq delisting notice in March. In June, the company received its second delisting notice. On May 26, GTC notified securities regulators of its intention to reduce its number of shares outstanding from roughly 104.4 million to 10.4 million.

GTC develops therapeutic proteins produced through transgenic animal technology. Its ATryn antithrombin is approved for use in the United States and Europe.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.