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Tuesday, Sep 26, 2023

North American Scientific Out of Compliance

North American Scientific Inc. has received notice from The NASDAQ Stock Market that it has failed to regain compliance due to shares falling below $1. Chatsworth-based North American was unable to meet an April 2 deadline of raising the price of its stock. Moreover, the Chatsworth-based radiation therapy provider is not eligible for an additional 180 calendar day compliance period given that it does not meet the Nasdaq Capital Market initial inclusion criteria of $15 million market value of publicly held shares. As a result, the company’s common stock is subject to delisting from the Nasdaq Capital Market at the opening of business on April 15. Shares of North American closed up at $0.37.

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