Nasdaq grants biopharmaceutical company Repros hearing to plead case before delisting

Repros to plead case against Nasdaq delisting

THE WOODLANDS, Texas — Repros Therapeutics Inc. said Thursday it has been granted permission by Nasdaq to plead at a hearing why it should be granted an extension before being delisted from the stock market.

Nasdaq rules call for companies to be delisted when their share price falls below $1.

Repros shares slipped 2 cents to 45 cents on Thursday.

The biopharmaceutical company is hoping to buy time for the Federal Drug Administration to respond to a petition for its drug candidate Androxal.

The company believes that a positive response from the agency would help boost its share price.

Repros must submit its plan supporting its case for an extension to Nasdaq by July 2. The hearing is scheduled for July 22.