Incara Pharmaceuticals (Nasdaq: INCR) may not keep that Nasdaq listing much longer.
The company announced Monday that it had received a delisting notice from Nasdaq on July 24, saying the company’s stock failed to meet the minimum bid price of $1 and that its publicly traded shares failed to meet the market’s requirement of $5 million in minimum value. Its stock closed at 17 cents a share on Monday, down 2 cents.
Incara, in a statement, said it plans to appeal the decision.
Incara stock traded as high as $1.95 in August of last year. It has a drug in clinical trials for the treatment of ulcerative colitis and also is exploring liver cell therapy as a treatment for liver failure.