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The letter, which the Berwyn company received Aug. 25, said that, based on its 10-Q for the quarter ended June 30, it didn't have the $2.5 million stockholders' equity required for continued listing on Nasdaq's Capital Market. Encorium's 10-Q showed shareholders' equity at $1.8 million. The company, which specializes in designing and managing trials of new products for the pharmaceutical industry, said it intended to submit a compliance play by the Sept. 9, deadline. The company's stock has traded in the range of $0.10 to $1.85 in the last 52 weeks. To see more of The Philadelphia Inquirer, or to subscribe to the newspaper, go to http://www.philly.com/inquirer. Copyright (c) 2009, The Philadelphia Inquirer Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. For full details for ENCO click here.
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