North American Scientific received a letter from The Nasdaq Stock Market, dated Feb. 4, providing notice that the company is in compliance with Nasdaq Marketplace Rules, and that the Listing Qualifications Panel will continue listing the company's securities on Nasdaq.
In addition, Nasdaq has approved the NAS’ application to list its common stock on The Nasdaq Capital Market, which will be transferred from The Nasdaq Global Market, effective today. NAS common stock will continue to trade under the symbol "NASI," according to Nasdaq.
Nasdaq previously notified the NAS that the bid price of its shares of common stock had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, it did not comply with Marketplace Rule 4450(a)(5). Therefore, in accordance with the rule, the company was provided 180 calendar days, or until April 2 to regain compliance.