Biopharmaceutical company Samaritan Pharmaceuticals Inc. on Monday said it got a notice from the American Stock Exchange Inc. saying it did not meet listing standards

Samaritan said it did not comply with Amex rules requiring companies to have shareholder equity of not less than $4 million and losses from continuing operations, or net losses, in three out of four of its most recent fiscal years -- as well as a rule requiring shareholder equity of not less than $6 million and net losses in the five most recent fiscal years.

If it wants to stay listed, Samaritan Pharmaceuticals must submit a plan by Dec. 6 describing how it will be back in compliance within 18 months. The company said it will come up with a plan.

"If we fail to timely submit this plan, AMEX does not accept the plan, or we fail to perform in accordance with the plan, we will be subject to delisting procedures," the company said.

Shares of Samaritan Pharmaceuticals dipped 2 cents to 28 cents in midday trading on the AMEX.