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Egalet misses deadline, receives another noncompliance notice from Nasdaq

Egalet Corp. failed to regain compliance with Nasdaq's $50 million minimum market value requirement by the May 23 deadline, the exchange notified the company.

As a result, the company's common stock would be subject to delisting unless it requests a hearing before a Nasdaq panel on time, the Nasdaq notice said.

The Wayne, Pa.-based specialty pharmaceutical company had earlier failed to comply with the $1 minimum bid price listing requirement.