Wednesday, April 9, 2008

Tapestry Pharmaceuticals Delisted From Nasdaq

Tapestry Pharmaceuticals Inc. announced Tuesday that its stock will cease to be traded on the Nasdaq Stock Market by early Friday. The news is the result of the cancer treatment research firm's decision to not appeal the Nasdaq de-listing notice it recently received after failing to provide the stock market with required paperwork. Tapestry noted that its common stock won't immediately be eligible for trading on the OTC Bulletin Board or the "Pink Sheets" exchange. However, such an arrangement might be possible at a later date, Tapestry said. The Boulder, Colo.-based business said its primary goal at present is to settle its debts with its creditors. Even so, bankruptcy might be unavoidable, Tapestry added.