Nasdaq to remove 3 companies from exchange

AP News
Posted: Dec 14, 2009 6:04 PM

The Nasdaq Stock Market on Monday said it will delist the stocks of three small companies: Teton Energy Corp., Altus Pharmaceuticals Inc., and UCBH Holdings Inc.

Nasdaq will file the necessary paperwork with the Securities and Exchange Commission to complete the delistings, which will become effective 10 days later. In all three cases, however, the stocks have already stopped trading on the Nasdaq.

Trading in Teton Energy, a Denver-based oil and gas exploration and production company, was suspended on Nov. 18.

The same day, trading was suspended for UCBH. The company's main subsidiary, United Commercial Bank, based in San Francisco, was closed by California regulators on Nov. 6 and placed under receivership of the Federal Deposit Insurance Corporation. The deposits were assumed by East West Bank of Pasadena, Calif.

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The stock of Altus Pharmaceuticals was suspended on Nov. 23. Altus is a Cambridge Mass.-based biotechnology company founded in 1993. The company is developing treatments for patients with chronic gastrointestinal and metabolic diseases.