Savient gets Nasdaq delisting notice for late 10-Q

By Jennifer Chiou

New York, Aug. 19 - Savient Pharmaceuticals, Inc. announced that it received a Nasdaq staff determination letter stating its stock may be delisted due to its late 10-Q filing for the period ended June 30 with the Securities and Exchange Commission.

Nasdaq said because the company is not in compliance with its rules, an "E" will be added to the Savient trading symbol on Aug. 19.

However the company expects its stock will continue to trade on the Nasdaq for now because it plans to request a hearing before a Nasdaq panel.

As previously announced, Savient said it made an error in recording its first-quarter reserve returns.

Based in East Brunswick, N.J., Savient is a specialty pharmaceutical company. Its lead product development candidate, Puricase, is for the treatment of refractory gout.

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