Firms Try to Stay on Exchange Lists

Two Orange County companies that are facing the loss of their stock listings on the Nasdaq National Market are appealing to market officials.

Both L.L. Knickerbocker Co. in Lake Forest and CoCensys Inc. in Irvine have been warned by Nasdaq that their stocks may be delisted because the prices have fallen below $1 a share.

Knickerbocker, whose shares were once among the hottest performers in the market, said it has asked Nasdaq for a hearing to argue for continued listing. The company, which sells collectible dolls and teddy bears, said it believes it is in compliance with all other requirements to maintain the listing.

But the shares have traded below $1 since Feb. 8. The stock closed Wednesday at 44 cents a share, unchanged.

CoCensys, which is in a similar predicament, said Nasdaq officials have scheduled a hearing for April 29 to consider its appeal for continued listing. The company, which develops products for treating neurological and psychiatric disorders, also said it believes it meets all other listing standards.

The stock, which has been unchanged at 25 cents a share the last four trading sessions, has traded under 50 cents a share for the last three months.

The companies are among several feeling the pinch of tougher listing standards, including the $1 price minimum, established last year by Nasdaq.

If the Knickerbocker and CoCensys shares are delisted, the stocks will continue to trade on the lower profile over-the-counter market, the companies said.