NAS Medical Files Bankruptcy, Stock to Be Delisted

Medical products manufacturer North American Scientific filed for bankruptcy on March 11. In February, the Chatsworth-based company announced it was selling its prostate brachytherapy product line to Best Theratronics for a total of $5 million, but last week the company announced the final sale price was actually $2.5 million. In its bankruptcy filing, NAS also cited a reduction a reduced credit line as a contributing factor. The Nasdaq announced that will be delisting the company’s stock as of March 23. North American said it hopes to have its stock trade on either the OTC or Pink Sheets in the future. The company said that it will be focusing exclusively on its ClearPath product line for breast cancer treatment. Linda Coburn