Two directors of BioDelivery Sciences International have resigned in order for the company to meet Nasdaq requirements for independent members of its board.
BDSI (Nasdaq: BDSI) said it was notified by Nasdaq on Sept. 15 that Donald Ferguson was not “independent” under National Association of Securities Dealer rules.
Alan Pearce, who was not independent, also resigned, BSDI said.
The resignations leave the board with seven members, for of whom are independent.
“BDSI has notified the Nasdaq staff of this action and, as a result, the staff has provided BDSI with a written notification that the company has regained compliance with NASD rules and that this matter is closed,” the company added.