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What: Generex Biotechnology
So what: Generex first received a delisting notice in 2008 for having a stock price of less than $1.00. Since then, the company has gone through a series of appeals, and a reverse stock split proposal failed in a shareholder vote.
Now what: Generex anticipates its common stock will no longer be traded on Nasdaq as of tomorrow. Starting then, the company anticipates the stock will be found over the counter under the ticker GNBT.OB. This will reduce liquidity for shareholders but doesn’t restrict the company from moving back to Nasdaq if a reverse split agreement can be reached.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.
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