The Nasdaq Stock Market filed notification with the Securities and Exchange Commission Wednesday that it is removing local public company Pet DRx from the exchange.
The veterinary hospital company was notified by Nasdaq last September that it needed to lift its closing stock price to at least $1, Nasdaq’s minimum bid requirement, for 10 consecutive trading days. Pet DRx shares had fallen below a buck in November 2008 and stayed there. Nasdaq gave Pet DRx a 180-day deadline — which ended Monday — to hit the target.
Nasdaq filed a Form 25 with the SEC after the markets closed Wednesday.
Brentwood-based Pet DRx owns and operates 23 veterinary hospitals in California. The company received its Nasdaq listing in May 2008. Shares (Ticker: VETS) closed at 41 cents.