Positron delisted from NASDAQ

PET manufacturer Positron continues to be dogged by cash-flow problems. On July 7, the Houston-based vendor was delisted from the NASDAQ stock exchange, due to noncompliance with NASDAQ's minimum capital and surplus requirements.

Financial difficulties were also cited by the vendor in its decision not to exhibit at the annual meeting of the Society of Nuclear Medicine meeting in June (SCAN 6/25/97). Earlier, a deal to buy the PET assets of GE Medical Systems collapsed as a result of difficulties in securing funds for the acquisition (SCAN 4/30/97).

Positron's stock will now be traded on the OTC bulletin board. The company intends to reapply for listing as soon it completes its recapitalization and meets the minimum listing requirements, said Gary Wood, chairman.