NovaBay Pharmaceuticals Receives Notification of Noncompliance with Additional NYSE American Continued Listing Standards
September 20 2017 - 6:50AM
Business Wire
NovaBay® Pharmaceuticals, Inc. (NYSE American: NBY) announces
receipt of a letter from NYSE American LLC (“NYSE American” or the
“Exchange”) on September 14, 2017 stating that it is not in
compliance with the continued listing standard set forth in Section
1003(a)(ii) of the NYSE American Company Guide (“Company Guide”)
requiring stockholders’ equity of $4.0 million or more if the
Company has reported losses from continuing operations and/or net
losses in three of the four most recent fiscal years.
As reported on a Form 8-K filed on May 19, 2017, the Company was
previously notified by NYSE American on May 16, 2017 that the
Company was not in compliance with the continued listing standard
requiring stockholders’ equity of $6.0 million or more if the
Company has reported losses from continuing operation and/or net
losses in its five most recent fiscal years as set forth in Section
1003(a)(iii) of the Company Guide.
NovaBay Pharmaceuticals submitted a plan of compliance to NYSE
American on June 15, 2017, addressing how it intends to regain
compliance with Section 1003(a)(iii) of the Company Guide by May
16, 2018. On June 29, 2017, the Company was notified by NYSE
American that the Company’s plan to regain compliance was accepted
subject to periodic review by NYSE American for compliance with
initiatives set forth in the plan. If the Company is not in
compliance with the continued listing standards by May 16, 2018, or
if the Company does not make progress consistent with the plan
during the period, the NYSE Regulation staff may initiate delisting
proceedings.
About NovaBay Pharmaceuticals, Inc.: Going Beyond
Antibiotics®
NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX® family of products and the
AGANOCIDE® compounds. The Neutrox family of products includes
AVENOVA® for the eye care market, NEUTROPHASE® for wound care
market, and CELLERX® for the aesthetic dermatology market. The
Aganocide compounds, still under development, have target
applications in the dermatology and urology markets.
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NovaBay ContactsFor NovaBay
Avenova purchasing information:Please call us toll free:
1-800-890-0329 or email
sales@avenova.comwww.Avenova.comorFrom the
CompanyJack McGovernChief Financial
Officer510-899-8800jmcgovern@novabay.comorInvestor ContactLHA Investor RelationsJody
Cain310-691-7100Jcain@lhai.com
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