Published on November 23, 2009 at 6:44 AM
A.P. Pharma, Inc. (Nasdaq:APPA), a specialty pharmaceutical company, today announced that, on November 19, 2009, the Company received notice from the Nasdaq Listing Qualifications Panel that it has regained compliance with the shareholders’ equity requirement for continued listing on the Nasdaq Capital Market.
As announced on September 21, 2009, the Company received notice from The Nasdaq Stock Market that it did not satisfy the $1.00 minimum bid price requirement, and that the Company has been granted through March 15, 2010 to regain compliance with the minimum bid price requirement. If the Company is not in compliance with the minimum bid price requirement by that date, the Company will be entitled to a second 180-calendar day grace period, through September 13, 2010, to evidence compliance with the minimum bid price requirement so long as the Company satisfies all criteria for initial listing on The Nasdaq Capital Market (except for bid price) as of March 15, 2010.
Source: A.P. Pharma, Inc.