Aphton gets Nasdaq delisting notice, plans to appeal

New York, Dec. 5 - Aphton Corp. said it received a delisting notice from the Nasdaq Stock Market - but added that it plans to appeal.

The delisting notice was based on Aphton's failure to maintain a market value of listed securities of at least $35 million.

A previous 30-day period to regain compliance with Nasdaq's standards expired on Nov. 25.

Aphton said it plans to appeal the notice by requesting a hearing before the Nasdaq Listing Qualifications Panel. An appeal will stay the delisting until the panel makes its decision.

Aphton is a Philadelphia-based clinical stage biopharmaceutical company developing targeted immunotherapies for cancer.

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