Rochester, NY 7/10/2009 2:47:44 AM
Late Afternoon Shakers - CBM - Cambrex Announces Compliance with NYSE Listing Standards - Sourced WhisperFromWallStreet.com
Cambrex CorporationCambrex Corporation
Late Afternoon Shakers - CBM - Cambrex Announces Compliance with NYSE Listing Standards - Sourced WhisperFromWallStreet.com
CAMBREX CP,CBM
4.15 Down 0.03 (0.72%) 2:20pm ET
Cambrex Corporation (NYSE: CBM) announced today that it has received notice from the New York Stock Exchange ("NYSE") informing the Company that it is in compliance with the revised NYSE continued listing standards. As announced by the Company on April 14, 2009, the Company had failed to meet the NYSE continued listing standards because its average market capitalization over a consecutive 30-day period and total shareholders' equity had each fallen below the NYSE $75 million threshold. The Securities Exchange Commission recently approved a pilot program effective through October 31, 2009, whereby the NYSE threshold is lowered to $50 million. The Company is in compliance with these new listing standards. The NYSE has indicated that it expects to file a subsequent rule filing prior to October 31, 2009 that is intended to make this change to the listing standard permanent.
Last Trade: 4.18
Day's Range: 3.93 - 4.21
52wk Range: 1.48 - 8.29
Volume: 81,538
ABOUT
Cambrex Corporation, a life sciences company, provides products and services to develop and commercialize active pharmaceutical ingredients and advanced intermediates. Its products include active pharmaceutical ingredients and pharmaceutical intermediates for use in the production of prescription and over-the-counter drug products, and other custom chemicals derived from organic chemistry. The company sells its products through direct sales and independent agents to pharmaceutical and generic drug companies worldwide. Cambrex Corporation was founded in 1981 and is based in East Rutherford, New Jersey.
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