Amedica Receives Nasdaq Listing Determination; Plans to Request Hearing
August 25 2017 - 5:00PM
Marketwired
Amedica Receives Nasdaq Listing Determination; Plans to Request
Hearing
SALT LAKE CITY, UT--(Marketwired - Aug 25, 2017) - Amedica
Corporation (NASDAQ: AMDA) (the "Company"), an innovative
biomaterial company that develops and manufactures silicon nitride
as a platform for biomedical applications, disclosed today that on
August 22, 2017, it received notification from the Nasdaq Listing
Qualifications Staff indicating that the Company's continued
non-compliance with the minimum $1.00 per share bid price
requirement could serve as a basis for delisting from Nasdaq as
could the Company's continued non-compliance with Nasdaq's filing
requirement unless the Company timely requests a hearing before the
Nasdaq Hearings Panel (the "Panel").
The Company intends to timely request a hearing before the
Panel, at which hearing it will present its plan to evidence
compliance with all requirements for continued listing on The
Nasdaq Capital Market. The Company's request for a hearing will
stay any suspension/delisting action by Nasdaq at least pending the
issuance of the Panel's decision following the hearing and the
expiration of any extension granted to the Company by the
Panel.
The Company is diligently working to evidence compliance with
all applicable requirements for continued listing on The Nasdaq
Capital Market; however, there can be no assurance that the Panel
will grant the Company's request for continued listing or that the
Company will regain compliance with the applicable criteria within
the period of time that may be granted by the Panel.
About Amedica CorporationAmedica is focused on the development
and application of medical-grade silicon nitride ceramics. Amedica
markets spinal fusion products and is developing a new generation
of wear- and corrosion-resistant implant components for hip and
knee arthroplasty. The Company manufactures its products in its ISO
13485 certified manufacturing facility and, through its partnership
with Kyocera, the world's largest ceramic manufacturer. Amedica's
spine products are FDA-cleared, CE-marked, and are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network and its OEM partnerships.
For more information on Amedica or its silicon nitride material
platform, please visit www.amedica.com.
Forward-Looking Statements This press release contains
statements that constitute forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform
Act of 1995. These statements are based upon our current
expectations and speak only as of the date hereof. Our actual
results may differ materially and adversely from those expressed in
any forward-looking statements as a result of various factors and
uncertainties. For example, there can be no assurance that we will
be able to maintain our listing on any NASDAQ market. Other factors
that could cause actual results to differ materially from those
contemplated within this press release can also be found in
Amedica's Risk Factors disclosure in its Annual Report on Form
10-K, filed with the Securities and Exchange Commission (SEC) on
March 23, 2016, and in Amedica's other filings with the SEC.
Forward-looking statements contained in this press release speak
only as of the date of this press release. We undertake no
obligation to update any forward-looking statements as a result of
new information, events or circumstances or other factors arising
or coming to our attention after the date hereof.
Contact:Amedica IR801-839-3502IR@amedica.com
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