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ContraVir Pharmaceuticals fails to regain Nasdaq compliance

The Nasdaq Stock Market LLC notified ContraVir Pharmaceuticals Inc. that it had not regained compliance with the exchange's minimum bid listing requirement of $1 per share.

The exchange further said that ContraVir was not eligible for a second 180-day period since it did not comply with the minimum $5 million stockholders' equity initial listing requirement for The Nasdaq Capital Market.

ContraVir has requested a hearing before the Nasdaq Hearings Panel, staying the delisting process. The panel has the discretion to grant the company an extension through no later than June 2, 2018.