Nasdaq notifies EpiCept of lack of listing compliance

Tarrytown, N.Y. Nasdaq has notified the pain and cancer treatment company EpiCept that it is not in compliance with requirements to be listed on the Nasdaq Capital Market because the market value of the company’s listed securities has fallen below $35 million for 10 consecutive trading days.

EpiCept will now be given until May 5 to regain compliance. If the company does not, it will have the right to appeal a determination to delist its securities. During that appeal process, EpiCept would remain on the market, and the company said in a statement that it intends to focus its efforts on regaining compliance

The company's portfolio of pharmaceutical product candidates includes several pain therapies in clinical development and a lead oncology compound for AML with demonstrated efficacy in a Phase III trial; a marketing authorization application for this compound is approaching a decision in Europe, according to the company.

In addition, the company stated, its ASAP technology, a proprietary live cell high-throughput caspase-3 screening technology, can efficiently identify new cancer drug candidates and molecular targets that selectively induce apoptosis in cancer cells.