Akers Biosciences receives delinquency notice from NASDAQ
Akers Biosciences announced that it received a notice from the Listing Qualifications Department of the Nasdaq Stock Market on May 22 stating that the company's failure to file its Form 10-Q for the quarter ended March 31 constituted a delinquency under Nasdaq Listing Rule 5250, which requires timely filing of periodic reports with the Securities and Exchange Commission. The notice notes that the company is required to submit a plan to regain compliance with Nasdaq's filing requirements for continued listing within 60 calendar days of the date of the notice. Upon acceptance of the company's compliance plan, Nasdaq is permitted to grant an extension of up to 180 calendar days from the report's filing due date, or until November 19, for the company to regain compliance with Nasdaq Listing Rule 5250. The company continues to work in order to expeditiously file the quarterly report as soon as practicable.