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MDRNA Regains Compliance with Nasdaq's Minimum Bid Requirement

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MDRNA announced this week that it has received notification from the Nasdaq Stock Market that its shares have regained compliance with the exchange's $1 minimum bid requirement for continued listing.

"We are pleased to have regained compliance with Nasdaq's Minimum Bid Price Requirement and believe it reflects the great progress we have made in restructuring and re-launching MDRNA as a premier RNAi drug discovery company," MDRNA President and CEO Michael French said in a statement.

MDRNA, however, still has yet to meet the Nasdaq's listing requirement of a minimum of $10 million in stockholders' equity. The company said earlier this month that it presented a plan to regain compliance to the Nasdaq's listing qualifications panel in April and expects to receive the panel's response by the end of the month.

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