Full Press Release Details
information: Michael R. Cox
LAFAYETTE, IN, March 5, 2010 - Bioanalytical Systems, Inc. (NASDAQ: BASI)
announced today that it received notification from the NASDAQ Listing
Qualification Department on March 4, 2010 that it has failed to maintain at
least a $1 minimum bid price for its common shares (the "Minimum Bid
Requirement"), which is required for continued listing of the Company's common
shares on the NASDAQ Capital Market.
Company has until August 31, 2010 to regain compliance with the Minimum Bid
Requirement by meeting the required $1.00 bid threshold for a minimum of 10
consecutive business days. The Company intends to actively evaluate
and monitor the bid price for its common shares between now and August 31, 2010,
and consider implementation of various options available to the Company if its
common shares do not trade at a level that is likely to regain
compliance. If the Company's minimum bid does not increase to $1.00
per share or more prior to August 31, 2010, the Company could be delisted from
the Capital Market, in which case the common shares may be traded
pharmaceutical development company providing contract research services and
monitoring instruments to the world's leading drug development companies and
medical research organizations. The company focuses on developing
innovative services and products that increase efficiency and reduce the cost of
taking a new drug to market. Visit www.BASInc.com for more information about
release contains forward-looking statements that are subject to risks and
uncertainties including, but not limited to
changes in the market and demand for our products and
services, the development, marketing and sales of products and
services, changes in technology, industry standards and regulatory standards,
and various market and operating risks detailed in the company's filings with
the Securities and Exchange Commission.