Mr. Andrew Patient reports
NASDAQ HEARINGS PANEL GRANTS INTELLIPHARMACEUTICS' REQUEST FOR CONTINUED LISTING
IntelliPharmaCeutics International Inc. has received notice from the Nasdaq hearings panel granting its request for continued listing until Sept. 28, 2018, while the company works to regain compliance with Nasdaq requirements.
At a hearing held on May 17, 2018, the company presented its plan to regain and maintain compliance with Nasdaq's continued listing requirements. The panel granted the company's request for continued listing, subject to conditions. On or before Sept. 28, 2018, the company must comply with the $1 bid price requirement by having a closing bid price of over $1 for 10 prior consecutive trading days. The company must also have by Sept. 28, 2018, a stockholders equity position of over $2.5-million. Finally, the company must by that date provide the panel with updated financial projections demonstrating its ability to maintain compliance with the stockholders equity rule for the coming year. There is no assurance that the company will be able to regain compliance with the Nasdaq requirements, or if it does, that the company will be able to maintain such compliance.
About IntelliPharmaCeutics International Inc.
IntelliPharmaCeutics is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The company's patented Hypermatrix technology is a multidimensional controlled-release drug delivery platform that can be applied to a wide range of existing and new pharmaceuticals.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.