Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. | ||||||||
| Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||||||
| Item 9.01. Financial Statements and Exhibits. | ||||||||
| SIGNATURES | ||||||||
| INDEX TO EXHIBITS | ||||||||
| EXHIBIT 99.1 | ||||||||
Table of Contents
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer
of Listing.
On March 6, 2008, Genitope Corporation (Genitope or the Company) received a staff deficiency
letter from The Nasdaq Stock Market (Nasdaq) indicating that, as a result of the resignation of
Stanford C. Finney from the Audit Committee of Genitopes Board of Directors, Genitope no longer
complied with Nasdaqs audit committee requirements as set forth
in Marketplace Rule 4350. Genitope advised Nasdaq of
Mr. Finneys resignation from the committee on
March 4, 2008. The rule requires that each listed issuer have an audit committee composed of at least three
independent directors. In accordance with Nasdaq Marketplace Rule 4350(d)(4), Nasdaq has provided
the Company with a cure period in order to regain compliance. The cure period will continue (1)
until the earlier of the Companys next annual shareholders meeting or February 26, 2009, or (2)
if the next annual shareholders meeting is held before August 25, 2008, then the Company must
evidence compliance no later than August 25, 2008. In the event the Company does not regain
compliance by this date, Nasdaq will provide written notification to the Company that its
securities will be delisted, after which, Genitope may appeal the staff determination to the Nasdaq
Listing Qualifications Panel.
There can be no assurance that Genitope will satisfy Nasdaqs conditions for continued listing,
that Genitope will appeal or request a hearing for a stay of delisting or that, if requested,
they would be successful or that Genitopes common stock will remain listed on The Nasdaq Global
Market. A copy of the Companys press release announcing receipt of the staff determination letter
is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On March 12, 2008, Genitope received correspondence from Stanford C. Finney, a director of the
Company, tendering, for personal reasons, his resignation from Genitopes Board of Directors,
effective immediately.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1
|
Press Release entitled Genitope Corporation Announces Receipt of Nasdaq Notice, dated March 13, 2008. |