Nasdaq says Novoste to remain listed

By Ted A. Knutson

Washington, Nov. 30 - Novoste Corp. received notice Monday that a Nasdaq Listing Qualifications Panel has granted the company's request that its stock remain listed on the Nasdaq National Market, the company said in an 8-K filing with the Securities and Exchange Commission.

On Oct. 19, Nasdaq notified Novoste that its common stock was not in compliance with the $1.00 minimum bid price required for continued listing.

However, a one-for-four reverse split of the company's stock on Nov. 4 worked to cure the deficiency.

Norcross, Ga.-based Novoste is a developer in the new field of vascular brachytherapy - radiation therapy delivered inside an artery to prevent it from re-closing (restenosis).

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