Apricus Biosciences Receives Positive Nasdaq Listing Determination
February 09 2017 - 6:00AM
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™, 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
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