CHF Solutions Receives 180-Day Extension to Meet Nasdaq Minimum Bid Price Requirement
September 01 2020 - 8:00AM
CHF Solutions (Nasdaq: CHFS), a medical device company dedicated to
changing the lives of patients suffering from fluid overload,
announced today receipt of written notification from the Nasdaq
Stock Market that it has granted the company’s request for an
180-day extension to regain compliance with Nasdaq’s minimum bid
price requirement under Nasdaq Listing Rule 5550(a)(2). The company
now has until February 24, 2021 to meet the requirement.
“We are pleased that Nasdaq granted our request for an
extension,” said John Erb, CEO of CHF Solutions. “We believe that
we will regain compliance during the extended time period and
continue to remain focused on driving revenue growth. We are happy
that the medical community has embraced ultrafiltration therapy
using the Aquadex™ System to treat pediatric patients, critically
ill COVID-19 patients, and patients suffering from fluid overload
due to heart failure and other critical care conditions.”
About CHF Solutions
CHF Solutions, Inc. (CHFS) is a medical device company dedicated
to changing the lives of patients suffering from fluid overload
through science, collaboration, and innovation. The company is
focused on developing, manufacturing and commercializing the
Aquadex SmartFlow™ system for ultrafiltration therapy. CHF
Solutions is headquartered in Minneapolis, Minn., with wholly-owned
subsidiaries in Australia and Ireland. The company has been listed
on the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow System
The Aquadex SmartFlow system delivers clinically proven therapy
using a simple, flexible and smart method of removing excess fluid
from patients suffering from hypervolemia (fluid overload). The
Aquadex SmartFlow system is indicated for temporary (up to 8 hours)
or extended (longer than 8 hours in patients who require
hospitalization) use in adult and pediatric patients weighing 20 kg
or more whose fluid overload is unresponsive to medical management,
including diuretics. All treatments must be administered by a
health care provider, within an outpatient or inpatient clinical
setting, under physician prescription, both having received
training in extracorporeal therapies.
Forward-Looking Statements
Certain statements in this release may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including without
limitation, statements about regaining compliance with Nasdaq’s
minimum bid requirement. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this release, including, without
limitation, those risk associated with our expectations regarding
the potential impacts of the COVID-19 pandemic on our business
operations, our ability to execute on our commercial strategy, the
possibility that we may be unable to raise sufficient funds
necessary for our anticipated operations, our post-market clinical
data collection activities, benefits of our products to patients,
our expectations with respect to product development and
commercialization efforts, our ability to increase market and
physician acceptance of our products, potentially competitive
product offerings, intellectual property protection, our ability to
integrate acquired businesses, our expectations regarding
anticipated synergies with and benefits from acquired businesses,
and other risks and uncertainties described in our filings with the
SEC. Forward-looking statements speak only as of the date when
made. CHF Solutions does not assume any obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACTS
INVESTORS:
Claudia Napal Drayton
Chief Financial Officer, CHF Solutions, Inc.
952-345-4205
ir@chf-solutions.com
MEDIA:
Jessica Stebing
Health+Commerce
260-336-6202
jstebing@healthandcommerce.com
CHF Solutions (NASDAQ:CHFS)
Historical Stock Chart
From Mar 2024 to Apr 2024
CHF Solutions (NASDAQ:CHFS)
Historical Stock Chart
From Apr 2023 to Apr 2024