Apricus Biosciences Receives Positive Nasdaq Listing Determination
February 09 2017 - 6:00AM
SAN DIEGO, Feb. 09, 2017 (GLOBE
NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a
biopharmaceutical company advancing innovative medicines in urology
and rheumatology, today announced that on February 8, 2017, the
Company was notified that the Nasdaq Hearings Panel (the "Panel")
has granted the Company's request for continued listing on Nasdaq
pursuant to an extension through May 30, 2017, by which date the
Company must evidence full compliance with all applicable criteria
for continued listing on The Nasdaq Capital Market, including the
$2.5 million stockholders' equity requirement. The Company is
diligently working to timely satisfy the terms of the Panel's
decision.
About
Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI)
is a biopharmaceutical company advancing innovative medicines in
urology and rheumatology. Apricus' commercial product, Vitaros®*,
for the treatment of erectile dysfunction, is approved in Canada
and certain countries in Europe, Latin America and the Middle East
and is being commercialized in certain countries in Europe and the
Middle East. In September 2015, Apricus in-licensed the U.S.
development and commercialization rights for Vitaros from Allergan.
Apricus' marketing partners for Vitaros include Recordati Ireland
Ltd. (Recordati), Ferring International Center S.A. (Ferring
Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV
and Elis Pharmaceuticals Ltd. Apricus currently has one
active product candidate, RayVa(TM), its product candidate for the
treatment of the circulatory disorder Raynaud's phenomenon.
For further information on Apricus,
visit http://www.apricusbio.com.
*Vitaros® is a registered
trademark of NexMed International Limited. Such trademark is
registered in certain countries throughout the world and pending
registration in the United States.
Forward Looking
Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, as amended. Statements in this
report that are not purely historical are forward-looking
statements. Such forward-looking statements include, among other
things: whether the Company can demonstrate compliance with the
Nasdaq's continue listing rules, including with respect to
stockholders' equity requirement. Actual results could differ from
those projected in any forward-looking statements due to a variety
of reasons that are outside of the Company's control, including,
but not limited to: the Company's ability to carry out its plan to
regain compliance with the continued listing requirements; risks
associated with the Panel's ability to to delist the stock prior to
expiration of the extension period; and other risks identified by
the Company in its reports filed with the Securities and Exchange
Commission ("SEC"). These forward-looking statements are made as of
the date of this press release, and the Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Readers are urged to read the risk
factors set forth in the Company's most recent annual report on
Form 10-K, subsequent quarterly reports filed on Form 10-Q, and
other filings made with the SEC. Copies of these reports are
available from the SEC's website at www.sec.gov or without charge
from the Company.
CONTACT:
Matthew Beck
mbeck@troutgroup.com
The Trout Group
(646) 378-2933
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Apricus Biosciences, Inc. via Globenewswire
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