MENLO PARK, Calif.,
Nov. 16, 2018 /PRNewswire/
-- BioPharmX Corporation (NYSE American: BPMX) (the
"Company"), a specialty pharmaceutical company developing products
for the dermatology market, announced that on November 1, 2018, NYSE Regulation accepted the
Company's plan to regain compliance with the NYSE American LLC
("NYSE American") continued listing standards set forth in Sections
1003(a)(iii) of the NYSE American Company Guide. NYSE Regulation
has reviewed the Company's compliance plan and has granted a plan
period through September 24,
2019.
As previously reported in a Current Report on Form 8-K filed
with the Securities and Exchange Commission on November 2, 2018, the Company was notified on
September 24, 2018, by NYSE American
that the Company was not in compliance with Section 1003(a)(iii)
related to stockholders' equity requirements. The Company reported
stockholders' equity of $4.3 million
as of July 31, 2018 and net losses in
its five most recent fiscal years ended January 31, 2018.
This notice from NYSE Regulation has no immediate impact on the
listing of the Company's common stock on the NYSE American and the
stock will continue to be listed and traded on the NYSE American
during the cure period, subject to the Company's compliance with
the NYSE American's other applicable continued listing standards.
The Company's stock symbol "BPMX" will be assigned a ".BC"
indicator by the NYSE American to signify that the Company
currently is not in compliance with the NYSE American's continued
listing standards. During which time the Company will be subject to
periodic review to determine whether the Company is making progress
consistent with the accepted plan. If the Company does not make
progress consistent with the plan during the plan period, NYSE
American may initiate delisting proceedings as appropriate.
About BioPharmX Corporation
BioPharmX Corporation
(NYSE American: BPMX) is a specialty pharmaceutical company,
developing prescription products through proprietary platform
technologies for dermatology indications. To learn more about
BioPharmX, visit www.BioPharmX.com.
Forward-Looking Statements
The information in this
press release contains forward-looking statements and information
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are subject to the "safe harbor" created by those
sections. This press release contains forward-looking statements
about the company's expectations, plans, intentions, and
strategies, including, but not limited to, our ability to regain
compliance with the continued listing standards of the NYSE
American. Additional risks are set forth in our filings with the
Securities and Exchange Commission, including those described in
the company's Quarterly Report on Form 10-Q for the most recent
fiscal quarter. The forward-looking statements included in this
news release are made only as of the date hereof, and the company
undertakes no obligation to publicly update such statements.
BioPharmX is a registered trademark of BioPharmX, Inc.
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SOURCE BioPharmX Corporation