Incara Pharmaceuticals Corporation says that it has been informed that its common stock does not meet the requirements for continued listing for the Nasdaq National Market.
As a result, Incara stock will begin trading on the OTC Bulletin Board under its current symbol “INCR.” The OTC Bulletin Board is a regulated quotation service that displays quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities.
An OTC equity security generally is any equity that is not listed or traded on Nasdaq or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts and Direct Participation Programs.
On Sept. 17, Incara announced it was pulling the plug on a drug it had under development for the treatment of ulcerative colitis. In a statement issued, Incara said the use of deligoparin during a clinical trial “did not meet the primary or secondary endpoints” of that study.
Based in RTP, is focused on disease therapies based on tissue protection, repair and regeneration. The company is developing a series of catalytic antioxidants as treatments for protection from damage occurring in cancer radiation therapy and stroke and for protection of cells in transplantation. Incara has received allowance of an Investigational New Drug Application to begin Phase 1 clinical trials of cryopreserved human liver cells for the treatment of patients with cirrhosis and end-stage liver disease.
Incara Pharmaceuticals: www.incara.com