ALFACELL Corporation Announces Nasdaq Delisting.BLOOMFIELD, N.J.--(BUSINESS WIRE)--April 28, 1999-- ALFACELL Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACEL ACEL Australian Council for Educational Leaders (Australia) ACEL Aerospace Crew Equipment Laboratory ACEL Alternating Current Electro-Luminescent ) announced that the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (Nasdaq) notified the Company that its common stock would be delisted from the Nasdaq SmallCap Market effective at the close of business April 27, 1999 for failing to meet the minimum bid price requirements set forth in NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Marketplace Rules. Effective April 28, 1999, the Company's common stock will be listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "ACEL". The OTC Bulletin Board is a regulated quotation service that displays real-time quotes and last-sale price and volume information in over-the-counter (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) equity securities. An OTC equity security generally is any equity that is not listed or traded on Nasdaq or other national securities exchange. Information about the OTC Bulletin Board is available on the internet at http://www.otcbb.com. On October 6, 1998 Nasdaq notified the Company that it was not in compliance with Nasdaq's $1.00 minimum bid price requirement, and that the Company was being provided 90 days to regain compliance. The Company did not meet this requirement, and attended a hearing on March 11, 1999 to request a stay of delisting. ALFACELL Corporation is a leader in the development of ribonucleases (RNases) for therapeutic applications. ONCONASE, an antitumor agent, is currently being investigated in Phase III clinical trials in patients with malignant mesothelioma. ALFACELL is located in Bloomfield, New Jersey. |
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