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Intellipharmaceutics noncompliant with another Nasdaq listing rule

Intellipharmaceutics International Inc. said it was no longer in compliance with Nasdaq's $2.5 million minimum stockholders' equity requirement for continued listing.

The Canadian pharmaceuticals company has until May 31 to remedy the situation.

Toronto-based Intellipharmaceutics is also in noncompliant with Nasdaq's minimum bid requirement listing rule and has until June 4 to regain compliance with that condition.