IGI Given Warning by AMEX

Back in April I told you about IGI, a Jersey based company that was trying to develop a treatment that prevented chemotherapy related alopecia. Well, it seems things aren’t going real well for the small firm. On Friday IGI were given a warning by the American Stock Exchange that their financials weren’t up to snuff. Specifically, shareholder equity is too low, and annual operating losses are occurring too frequently. The company have a month to submit a plan of correction and 18 months to implement the necessary corrections. If unable to correct the problems, the company could be delisted from the exchange.

I’m trying to get an update on IGI’s alopecia treatment, and will pass on any information that I can. The potential to reduce or eliminate the collateral damage caused by cancer therapies is a good thing in my book.