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Nasdaq panel allows ContraVir Pharmaceuticals to continue listing

The Nasdaq Hearings Panel allowed ContraVir Pharmaceuticals Inc. to continue listing its stock on the Nasdaq Capital Market until June 4.

ContraVir needs to prove its compliance with the $1 minimum bid price rule and other requirements by that date to remain listed on the exchange.

The company said it is taking definitive steps to regain compliance with the listing standards, including seeking shareholder approval at its upcoming annual meeting to implement a reverse stock split.