: Catalent stock reverses to a near 6% loss after NYSE notice of noncompliance with listing standards


Shares of Catalent Inc. CTLT, +15.65% dove to a 5.9% loss in premarket trading Friday, after the provider of delivery technologies and manufacturing services for drug makers said it has received notice from the New York Stock Exchange (NYSE) that it was not in compliance with listing standards. Just prior to the announcement, the stock was up 3.9%. The company, which filed last week for a delay in fling its audited 10-Q report with the Securities and Exchange Commission, said it “requires additional time” to prepare and review its financial statement in the 10-Q. The company noted that the NYSE compliance notice has no immediate effect, as Catalent has six months from May 15 to regain compliance. The company previously said the delay in filing its 10-Q due to the identification of certain accounting adjustments in previous financial statements related to its operations in Bloomington, Indiana. The stock has plunged 55% over the past three months, while the S&P 500 SPX, -0.14% has gained 2.9%.

This article was originally published by Marketwatch.com. Read the original article here.

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