Cesca Therapeutics Inc., the Rancho Cordova-based medical equipment firm, has been informed by the Nasdaq stock market that it has fallen out of compliance to be listed on Nasdaq.
Nasdaq issued the delisting warning because Cesca did not file its most recent quarterly financial report on time to the U.S. Securities and Exchange Commision.
Under Nasdaq listing rules, the company has 60 days to submit a plan to regain compliance. If the plan is accepted, Cesca has until Aug. 24 to regain compliance status to have its common stock listed on Nasdaq.
In a quarterly report released to media Feb. 12, the company reported a loss of $4.4 million, or 11 cents per share, for its fiscal second quarter ended Dec. 31. That compares with a loss of $1.6 million, or 10 cents a share, in the same period of 2013. Cesca said the loss in the most recent quarter was related to “investments in the development and advancement of the company's clinical programs and legal costs associated with patent litigation.”
Cesca does research, development and commercialization of products used in regenerative medicine, including automated blood and bone marrow processing systems.
Call The Bee’s Mark Glover, (916) 321-1184.