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A Philadelphia-area company, of Newtown, Pa., wants to buy etrials, and increasec its offer on Wednesday. Bio-Imaging is a contract researcj organization that specializes in medicaplimage management. Etrials of Morrisville, N.C., is a providet of electronic clinical software and servicesto pharmaceutical, medical device and contract research organizations. The Nasda letter, received May 18 and referred to inan eTrials’ news releasse Friday, says that the company has falleh below the tech-heavy stock exchange’s $10 millionm minimum requirement for shareholder Etrials reported stockholders equity of $9.6 million as of Marcbh 31.
To stay on the largest Nasdawq market, Etrials (NASDAQ:ETWC) must present a plan by June 2 that showsa how the company will return to compliancde withNasdaq rules. The companh also must supply a timeline for meetingthose requirements. Etrialds also could consider applying for a listingg on the NasdaqCapital Market, which handles smaller companies. On Wednesday, Bio-Imaging increased its cash and stoci offerto $1.35 for each share of etrialsa stock held — up from the originall offer earlier this month that had a valu e of about 90 cents per share. The total value of the deal isnow $14.9 million, up from $9.
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