Bermuda domiciled Xoma Ltd. has been given until September 13 to comply with a listing requirement for its share price by the Nasdaq stock market.

The drug company, which is located in Berkeley, is considering a reverse stock split to address the issue.

Its board approved the possibility in May and Xoma has since asked its shareholders to vote for the idea at its July 21 annual meeting.

Seeking shareholder approval for a reverse stock split was part of a deal Xoma worked out with Nasdaq officials. Last September the Nasdaq started the process of delisting Xoma's shares because they usually trade below $1 each.

Xoma's accumulated deficit at the end of the March quarter was $806.3 million.

The company was initially incorporated in Delaware, but changed its legal domicile to Bermuda and its name to Xoma Ltd. at the end of 1998.