The answer is CONTINUED LISTING STANDARDS.
• From NASDAQ's noncompliant companies webpage:
Each trading day, Nasdaq publishes a list of companies that are noncompliant with the
continued listing standards. In most cases, a company is added to the list five business days after Nasdaq notifies the company about its noncompliance and is removed from the list one business day after Nasdaq determines that the company has regained compliance or no longer trades on Nasdaq.
A summary of Nasdaq’s continued listing standards are included in our Continuing Listing Guide. The Listing Rules can be found here.
• Simply click the link below and scroll down the list to MannKind. You will see an arrow to the left of the name. Click it. You will see:
MannKind bid price,
NGM, the date 9/14/2016.
listingcenter.nasdaq.com/NonCompliantCompanyList.aspx• NASDAQ's CONTINUED LISTING STANDARDS:
Continued Listing Standards for Nasdaq Global Select Market and
Nasdaq Global Market Companies—The financial and liquidity standards for continued listing are the same for companies trading on either the Nasdaq Global Select Market or the Nasdaq Global Market. Once listed, companies must meet all of the criteria under at least one of the three standards below.
listingcenter.nasdaq.com/assets/continuedguide.pdfAlso:
5450. Continued Listing Requirements and Standards for Primary Equity Securities
A Company that has its Primary Equity Security listed on the Global Market must continue to substantially meet all of the requirements set forth in Rule 5450(a) and at least one of the Standards in Rule 5450(b). Failure to meet any of the continued listing requirements will be processed in accordance with the provisions set forth in the Rule 5800 Series. A security maintaining its listing under 5450(b)(3) need not also be in compliance with the quantitative maintenance criteria in the Rule 5500 series.
(a) Continued Listing Requirements for Primary Equity Securities:
(1) Minimum bid price of $1 per share; and
(2) At least 400 Total Holders.
(b) Continued Listing Standards for Primary Equity Securities:
(1) Equity Standard
(A) Stockholders' equity of at least $10 million;
(B) At least 750,000 Publicly Held Shares;
(C) Market Value of Publicly Held Shares of at least $5 million; and
(D) At least two registered and active Market Makers.
(2) Market Value Standard
(A) Market Value of Listed Securities of at least $50 million;
(B) At least 1,100,000 Publicly Held Shares;
(C) Market Value of Publicly Held Shares of at least $15 million; and
(D) At least four registered and active Market Makers.
(3) Total Assets/Total Revenue Standard
(A) Total assets and total revenue of at least $50 million each for the most recently completed fiscal year or two of the three most recently completed fiscal years;
(B) At least 1,100,000 Publicly Held Shares;
(C) Market Value of Publicly Held Shares of at least $15 million; and
(D) At least four registered and active Market Makers.
Adopted March 12, 2009 (SR-NASDAQ-2009-018).
5455. Continued Listing Requirements for Rights and Warrants
For continued listing, the rights or warrants must meet all the requirements below:
(a) The underlying security must continue to be listed on the Global Market or be a Covered Security; and
(b) There must be at least two registered and active Market Makers, one of which may be a Market Maker entering a stabilizing bid.
Adopted March 12, 2009 (SR-NASDAQ-2009-018).
5460. Continued Listing Requirements for Preferred Stock and Secondary Classes of Common Stock
(a) When the Company's Primary Equity Security of the Company is listed on the Global Market or is a Covered Security, the preferred stock or secondary class of common stock must meet all of the requirements set forth in (1) through (5) below.
(1) At least 100,000 Publicly Held Shares;
(2) A Market Value of Publicly Held Shares of at least $1,000,000;
(3) Minimum bid price of at least $1 per share;
(4) At least 100 Public Holders; and
(5) At least two registered and active Market Makers.
(b) When the Primary Equity Security of the Company is not listed on the Global Market or is not a Covered Security, the preferred stock and/or secondary class of common stock may continue to be listed on the Global Market so long as it satisfies the continued listing criteria for Primary Equity Securities set forth in Rule 5450.
Adopted March 12, 2009 (SR-NASDAQ-2009-018); amended August 18, 2009 (SR-NASDAQ-2009-078).
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