PhotoMedex Inc. said it would appeal a Nasdaq decision to delist its shares from the stock exchange.
The company has until 4 p.m. ET on May 30 to appeal the decision, which would stay the delisting until after the appeal is heard. Otherwise, the company's securities will be suspended at the opening of business June 1.
While the company met the stock exchange's continued listing requirements, it failed to submit an initial listing application after completing an agreement with First Capital Real Estate Trust Inc.
As a result, the company's stock again fell out of compliance and Nasdaq determined to delist PhotoMedex's securities — a decision the company will now appeal.