Marshall Edwards receives non-compliance notice from NASDAQ

Nov 20 2010

Marshall Edwards, Inc.(Nasdaq: MSHL), an oncology company focused on the clinical development of novel anti-cancer therapeutics, announced today that it was notified on November 16, 2010 by the Listing Qualifications Staff of The NASDAQ Stock Market that, due to the Company's non-compliance with the minimum $10 million stockholders' equity requirement for continued listing on The NASDAQ Global Market, as set forth in Listing Rule 5450(b)(1), the Company's common stock is subject to delisting unless the Company requests a hearing before a NASDAQ Listing Qualifications Panel.

The Company intends to timely request a hearing before the Panel, which request will stay any further action by NASDAQ until the Panel issues its decision following the hearing. In connection with the hearing, the Panel may grant the Company an additional compliance period of up to 180 calendar days from the date of the NASDAQ staff's determination, or May 16, 2011, to evidence compliance with the minimum stockholders' equity requirement for continued listing on The NASDAQ Global Market. While the Company is working diligently to remedy the listing deficiency, there can be no assurance that the Panel will grant the Company's request for continued listing on The NASDAQ Global Market and, if the Panel does not, the Company's common stock may be transferred to The NASDAQ Capital Market or delisted from NASDAQ.

SOURCE Marshall Edwards, Inc.