Theratechnologies Receives Notification from NASDAQ Relating to Minimum Bid Price
August 07 2012 - 5:00PM
Marketwired
Theratechnologies Inc. (Theratechnologies) (TSX:TH)(NASDAQ:THER)
today announced that it received a letter from the listing
qualifications department staff of The NASDAQ Stock Market LLC
(NASDAQ) on August 7, 2012 notifying Theratechnologies that, for
the last 30 consecutive business days, the bid price of its common
shares had closed below $1.00 per share, the minimum closing bid
price required by the continued listing requirements set forth in
NASDAQ Listing Rule 5450(a)(1).
Pursuant to NASDAQ Listing Rule 5810(c)(3)(A), Theratechnologies
has 180 calendar days, or until February 4, 2013, to regain
compliance with the minimum bid price requirement. If at any time
before this date Theratechnologies' common shares have a closing
bid price of $1.00 or more for a minimum of 10 consecutive business
days, NASDAQ staff will notify Theratechnologies that it has
regained compliance. As a result, the notice has no effect at this
time on the listing of Theratechnologies' common shares on The
NASDAQ Global Market, which will continue to trade under the symbol
"THER".
If Theratechnologies does not regain compliance with NASDAQ
Listing Rule 5450(a)(1) by February 4, 2013, Theratechnologies may
be eligible for more time if it submits an application to transfer
its securities to The NASDAQ Capital Market. Following submission
of the application, Theratechnologies may be eligible for an
additional 180-day period to regain compliance with the minimum bid
price requirement if it meets the continued listing requirement for
market value of publicly held shares and all other initial listing
standards, with the exception of the bid price requirement, for The
NASDAQ Capital Market and provides notice of its intention to cure
the deficiency during the second compliance period. Should NASDAQ
conclude that Theratechnologies will not be able to cure the
deficiency, NASDAQ will provide notice that its securities will be
subject to delisting. Alternatively, Theratechnologies may appeal
NASDAQ's decision to a Listing Qualifications Panel.
Theratechnologies intends to monitor the bid price for its
common shares between now and February 4, 2013, and will assess all
its available options under the circumstances during this
period.
About Theratechnologies
Theratechnologies (TSX:TH)(NASDAQ:THER) is a specialty
pharmaceutical company that discovers and develops innovative
therapeutic peptide products, with an emphasis on growth-hormone
releasing factor peptides. For more information about
Theratechnologies, please visit www.theratech.com. Additional
information, including the public documents filed by
Theratechnologies, is also available on SEDAR at www.sedar.com and
on the Securities and Exchange Commission's website at
www.sec.gov.
We refer potential investor to the "Risk Factors" section of our
Annual Information Form (AIF) dated February 27, 2012. The AIF is
available at www.sedar.com and at www.sec.gov under our public
filings.
Contacts: Luc Tanguay Senior Executive Vice President &
Chief Financial Officer Theratechnologies Inc. 514 336-4804
(x204)
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