Drkoop Seeks Hearing to Block Nasdaq Removal

Share this content:
Healthcare information provider Drkoop.com yesterday requested a hearing before the Nasdaq exchange's qualifications board to contest the impending removal of its stock listing.

The hearing is scheduled for March 30. The removal of Drkoop's stock listing will be delayed until the hearing. There is no assurance Nasdaq will grant the Santa Monica, CA-based company's request for a continued listing.

In December, the Nasdaq notified Drkoop that its stock had failed to meet the $1 minimum bid requirement for 30 consecutive days and would be removed. Drkoop's stock closed at 25 cents on Wednesday.

Drkoop considered a reverse stock split to increase its stock price and prevent removal of its listing. However, the company decided against the move after several major stockholders voiced opposition.

Instead, Drkoop pursued a cost-cutting policy in an effort to reduce monthly expenses to less than $1 million, down from a high of $8 million in March 2000. It has closed its Austin, TX, office and reduced its staff to 35, down from a high of 185 when the company was founded by former U.S. Surgeon General C. Everett Koop.


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above