YORK, Pa., Sept. 29, 2016
/PRNewswire/ -- Unilife Corporation ("Unilife" or the
"Company") (NASDAQ: UNIS; ASX: UNS) announced today that the
Company will not be able to file its audited financial statements
by September 30, 2016. As a
result, pursuant to rules of the Australian Securities Exchange
("ASX"), trading in the Company's CHESS Depositary Interests
("CDIs") on the ASX will be suspended prior to the opening of
trading on the ASX on October 3,
2016, or earlier if ASX accepts the Company's request for an
immediate voluntary suspension of trading prior to such date.
Trading of the Company's CDIs will not resume until the Company
files its audited financial statements with the ASX.
On September 29, 2016, the NASDAQ
Stock Market LLC ("NASDAQ") informed the Company that at this time,
NASDAQ does not intend to halt trading of the Company's common
stock on NASDAQ following a suspension of trading of the Company's
CDIs on the ASX.
The Company expects to file both its Quarterly Report on Form
10-Q for the quarter ended March 31,
2016 ("Form 10-Q") and its Annual Report on Form 10-K ("Form
10-K") for the year ended June 30,
2016 in advance of expiration of NASDAQ's November 7, 2016 deadline to regain compliance
with NASDAQ Listing Rule 5250(c)(1).
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S.
based developer and commercial supplier of injectable drug delivery
systems. Unilife has a portfolio of innovative, differentiated
products with a primary focus on wearable injectors. Products
within each platform are customizable to address specific customer,
drug and patient requirements. Unilife's global
headquarters and manufacturing facilities are located in York,
PA. For more information, visit www.unilife.com.
General: UNIS-G
Investor Contact (US):
Jeremy Feffer
Unilife Corporation
+1-717-384-3450
investors@unilife.com
Investor Contact (Australia):
Jeff Carter
Unilife Corporation
+61 2 8346 6500
Forward-Looking Statements
This press release contains forward-looking statements. All
statements that address operating performance, events or
developments that we expect or anticipate will occur in the future
are forward-looking statements. These forward-looking statements
are based on management's beliefs and assumptions and on
information currently available to our management. Our management
believes that these forward-looking statements are reasonable as
and when made. However, you should not place undue reliance on any
such forward-looking statements because such statements speak only
as of the date when made. We do not undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. In addition, forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results, events and developments to differ materially from our
historical experience and our present expectations or projections.
Such risks include, but are not limited to, the impact of the delay
in the Company's completion of the filing of the Form 10-Q and the
Form 10-K; negative reactions from the Company's creditors,
stockholders, strategic partners or customers to the financial
information that the Company ultimately files with the SEC in the
Form 10-Q, the Form 10-K or in other disclosures of the Company, or
to the audited financial statements the Company ultimately files
with the ASX; the Company's ability to comply with or obtain
waivers under the Company's debt instruments; ; that the Company's
common stock will be delisted from trading on NASDAQ; the impact of
a suspension of trading of the Company's CDIs on the ASX; that the
Company will be unable to file the Form 10-Q and the Form 10-K with
the SEC by November 7, 2016 or
otherwise regain compliance with the NASDAQ listing requirements;
and the financial impact to the Company as a result of the
foregoing. Additional risks and uncertainties include, but are not
limited to, those described in the "Risk Factors" set forth in the
prospectus supplement, dated February 22, 2016, in "Item 1A.
Risk Factors" and elsewhere in our Annual Report on Form 10-K, and
those described from time to time in other reports which we file
with the Securities and Exchange Commission.
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SOURCE Unilife Corporation