Monster Digital Inc. has received an extension to continue listing its stock on the Nasdaq, according to the company.
The Simi Valley digital camera maker said the extension lasts until Jan. 3, the deadline for its proposed merger with Innovate Biopharmaceuticals Inc. in Raleigh, N.C. The extension comes with the condition that the two companies finalize the merger and notify a Nasdaq panel.
Innovate is a research biotech company that plans to use the public capital markets to finance development of its main pipeline drug.
Monster Digital could not be reached for further comment.
The company announced the extension Dec. 12. Shares of Monster Digital (MSDI) closed Friday down a fraction of a cent, or less than one percent, to 60 cents on the Nasdaq.