Fibrocell Regains Compliance with NASDAQ Listing Requirements
March 28 2017 - 8:00AM
Fibrocell Science, Inc. (NASDAQ:FCSC), a gene therapy company
focused on transformational autologous cell-based therapies for
skin and connective tissue diseases, today announced that it
received notice from The NASDAQ Stock Market LLC (NASDAQ) on March
27, 2017 indicating that the Company has regained compliance with
the minimum bid price requirement under NASDAQ Listing Rule
5550(a)(2) for continued listing on The NASDAQ Capital Market.
Accordingly, Fibrocell is in compliance with all applicable listing
standards and its common stock will continue to be listed on The
NASDAQ Capital Market and NASDAQ considers the matter closed.
Fibrocell had previously been notified by NASDAQ
that it was not in compliance with the minimum bid price rule
because its common stock failed to meet the closing bid price of
$1.00 or more for 30 consecutive business days. In order to regain
compliance with the Rule, the Company was required to maintain a
minimum closing bid price of $1.00 or more for at least 10
consecutive trading days. This requirement was met on March 24,
2017, the tenth consecutive trading day when the closing bid price
of the Company's common stock was over $1.00.
About Fibrocell
Fibrocell is an autologous cell and gene therapy
company translating personalized biologics into medical
breakthroughs for diseases affecting the skin and connective
tissue. Fibrocell’s most advanced product candidate, FCX-007,
has begun a Phase I/II trial for the treatment of recessive
dystrophic epidermolysis bullosa (RDEB). Fibrocell is in
pre-clinical development of FCX-013, its product candidate for the
treatment of linear scleroderma. In addition, Fibrocell has a
third program in the research phase for the treatment of arthritis
and related conditions. Fibrocell’s gene therapy portfolio is
being developed in collaboration with Intrexon Corporation (NYSE:
XON), a leader in synthetic biology. For more information,
visit http://www.fibrocell.com or follow Fibrocell on Twitter at
@Fibrocell.
Trademarks
Fibrocell, the Fibrocell logo and Fibrocell
Science are trademarks of Fibrocell Science, Inc. and/or its
affiliates. All other names may be trademarks of their
respective owners.
Forward-Looking Statements
This press release contains, and Fibrocell’s
officers and representatives may from time to time make, statements
that are “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. All statements that are not historical facts
are hereby identified as forward-looking statements for this
purpose and include, among others, statements relating to
Fibrocell’s ability to continue to maintain compliance with
NASDAQ’s continued listing standards.
Forward-looking statements are based upon
management’s current expectations and assumptions and are subject
to a number of risks, uncertainties and other factors that could
cause actual results and events to differ materially and adversely
from those indicated herein including, among others: the risk
that the Company fails to maintain compliance with all applicable
NASDAQ listing standards, risks and uncertainties inherent in
Fibrocell’s business, and uncertainties and other factors discussed
under the caption “Item 1A. Risk Factors” in Fibrocell’s most
recent Form 10-K filing. As a result, you are cautioned not to
place undue reliance on any forward-looking statements. While
Fibrocell may update certain forward-looking statements from time
to time, Fibrocell specifically disclaims any obligation to do so,
whether as a result of new information, future developments or
otherwise.
Investor & Media Relations Contact:
Karen Casey
484.713.6133
kcasey@fibrocell.com
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