DAVIS, Calif. -- (Business Wire)
Marrone Bio Innovations, Inc. (the “Company”) (NASDAQ:MBII) today
announced that it has received a letter from The NASDAQ Stock Market LLC
(“NASDAQ”) indicating that a NASDAQ Hearings Panel (the “Panel”) granted
the Company’s request to extend the stay of any suspension in trading in
the Company’s common stock on NASDAQ at least pending the completion of
the Company’s scheduled hearing before the Panel and a final
determination regarding the Company’s listing status. As previously
announced, as part of the Company’s request for a hearing before the
Panel, the Company requested the extended stay of any suspension in
trading. Also as previously announced, the hearing is scheduled for June
18, 2015. Although the Panel typically issues decisions within 30 days
of the hearing date, there is no requirement that the Panel do so within
that time frame.
At the hearing, the Company plans to present a definitive plan to regain
compliance with the NASDAQ listing rule that requires the Company to be
current in the filing of its periodic financial reports with the
Securities and Exchange Commission and to request an extension of time
to file its delayed reports. The Panel has the discretion to grant the
Company an extension to do so through November 2, 2015.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc. (NASDAQ: MBII) is a leading provider of
bio-based pest management and plant health products for the agriculture,
turf and ornamental and water treatment markets. Our effective and
environmentally responsible solutions help customers operate more
sustainably while controlling pests, improving plant health, and
increasing crop yields. We have a proprietary discovery process, a rapid
development platform, and a robust pipeline of pest management and plant
health product candidates. At Marrone Bio Innovations we are dedicated
to pioneering better biopesticides that support a better tomorrow for
users around the globe. For more information, please visit www.marronebio.com.
Forward Looking Statements
Portions of this release may constitute “forward-looking statements and
assumptions underlying such forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995 (the
“PSLRA”), Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Any such forward-looking statements
are made within the “safe-harbor” protections of the PSLRA, should not
be relied upon as representing our views as of any subsequent date, and
we are under no obligation to, and expressly disclaims any
responsibility to, update or alter these forward-looking statements,
whether as a result of new information, future events or otherwise.
Forward-looking statements in this release include those regarding the
Company’s submission of a plan to regain compliance with NASDAQ listing
rules, the hearing process and any further extension of the stay on
delisting. Such forward-looking statements are based on information
available to the Company as of the date of this release and involve a
number of risks and uncertainties, some beyond its control, that could
cause actual results to differ materially from those anticipated by
these forward-looking statements. Such risks include uncertainty
surrounding management’s evaluation of the nature and scope of any
necessary restatement to its previously filed financial statements,
potential legal or regulatory action related to the matters under
investigation and adverse decisions by the SEC or NASDAQ. Additional
information that could lead to material changes in the Company’s
performance is contained in its filings with the SEC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006738/en/
Contacts:
Investors:
James Palczynski, 203-682-8229
ir@marronebio.com
Source: Marrone Bio Innovations, Inc.
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