The specialty pharmaceutical company’s failure to file these periodic reports violated Nasdaq Marketplace Rules, compliance with which is required for continued listing. The de-listing became effective at the start of morning trading on August 8, 2005.
However, the notification of de-listing received by the company included provision for re-listing Impax’s common stock provided the company becomes current in its filings within 90 days and demonstrates compliance with the listing requirements. Assuming it is able to meet these requirements, Impax believes this provision will expedite the re-listing process.
According to a company statement, Impax “remains committed to regaining compliance with all filing requirements and obtaining re-listing of its common stock as soon as possible and continues to work diligently toward completing and filing its delinquent reports”.