Acasti Receives Extension to Regain Compliance With NASDAQ Minimum Bid Price Rule
11 Mayo 2015 - 9:48AM
Acasti Pharma Inc. ("
Acasti" or the
"
Corporation") (Nasdaq:ACST) (TSX-V:APO), an
emerging biopharmaceutical company focused on the research,
development and commercialization of new krill oil-based forms of
omega-3 phospholipid therapies for the treatment and prevention of
certain cardiometabolic disorders, announces that it has received
notification from the NASDAQ Listing Qualifications Department
("NASDAQ") that it is eligible for an additional 180 calendar days,
until November 2, 2015, to regain compliance with the minimum $1.00
per share requirement for continued listing.
On November 7, 2014 Acasti received notification from NASDAQ for
not maintaining a minimum bid price of US$1.00 per share for 30
consecutive business days (Listing Rule 5550(a) (2)). The
Corporation was given 180 calendar days, or until May 6, 2015, to
regain compliance.
On May 11, 2015, Acasti received notification from NASDAQ that
it is eligible for an additional 180 calendar days to regain
compliance. Acasti was granted the extension because it meets
the continued listing requirements for the market value of publicly
held shares and all other initial listing standards for NASDAQ
Capital Market (rule 5505 – Capital Market criteria), except for
the bid price requirement and because the Corporation has provided
written notice of its intention to cure the minimum bid price
deficiency during the second compliance period by effecting a
reverse stock split, if necessary. To regain compliance,
Acasti's shares must close at US$1.00 per share or more for a
minimum of ten (10) consecutive business days.
About Acasti Pharma Inc.
Acasti is an emerging biopharmaceutical company focused on the
research, development and commercialization of new krill oil-based
forms of omega-3 phospholipid therapies for the treatment and
prevention of certain cardiometabolic disorders, in particular
abnormalities in blood lipids, also known as dyslipidemia. Because
krill feeds on phytoplankton (diatoms and dinoflagellates), it is a
major source of phospholipids and polyunsaturated fatty acids
("PUFAs"), mainly eicosapentaenoic acid ("EPA") and docosahexaenoic
acid ("DHA"), which are two types of omega-3 fatty acids well known
to be beneficial for human health. CaPre®, currently Acasti's only
prescription drug candidate, is a highly purified omega-3
phospholipid concentrate derived from krill oil and is being
developed to help prevent and treat hypertriglyceridemia, which is
a condition characterized by abnormally high levels of
triglycerides in the bloodstream. ONEMIA®, a medical food and
currently Acasti's only commercialized product, is a purified
omega-3 phospholipid concentrate derived from krill oil with lower
levels of phospholipids, EPA and DHA content than CaPre®.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. securities laws and Canadian
securities laws. Such forward-looking statements involve known and
unknown risks, uncertainties, and other unknown factors that could
cause the actual results of Acasti to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are
urged to consider statements labeled with the terms "believes,"
"belief," "expects," "intends," "anticipates," "will," or "plans"
to be uncertain and forward-looking. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release.
The forward-looking statements contained in this news release
are expressly qualified in their entirety by this cautionary
statement and the "Cautionary Note Regarding Forward-Looking
Information" section contained in Acasti's latest Annual
Information Form, which also forms part of Acasti's latest annual
report on Form 20-F, and which is available on SEDAR at
www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the
investor section of Acasti's website at acastipharma.com (the
"AIF"). All forward-looking statements in this press release are
made as of the date of this press release. Acasti does not
undertake to update any such forward-looking statements whether as
a result of new information, future events or otherwise, except as
required by law. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in Acasti's public securities
filings with the Securities and Exchange Commission and the
Canadian securities commissions. Additional information about these
assumptions and risks and uncertainties is contained in the AIF
under "Risk Factors."
Neither NASDAQ, the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Acasti Contact:
John Ripplinger
Investor Relations
+1.450.687.2262
j.ripplinger@acastipharma.com
acastipharma.com
Acasti Pharma Inc. (TSXV:APO)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Acasti Pharma Inc. (TSXV:APO)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024