VIVUS Regains Compliance with Nasdaq Listing Requirements
September 26 2018 - 7:30AM
VIVUS, Inc. (Nasdaq: VVUS) (the “Company”), a biopharmaceutical
company that develops and commercializes novel therapeutic products
to address unmet medical needs in human health, announced today
that it has regained full compliance with Nasdaq listing
requirements.
In a letter dated September 25, 2018, Nasdaq informed the
Company that it has achieved compliance with the minimum bid price
rule and is in compliance with other applicable requirements
required for continued listing on The Nasdaq Capital Market.
“When we assembled the new management team in April, combining
three new officers with the existing VIVUS team, we articulated a
set of key priorities. These included, restructuring our debt,
closing the PANCREAZE acquisition, developing a strategy to grow
Qsymia, improving our analytical capabilities and regaining Nasdaq
compliance,” said John Amos, Chief Executive Officer
at VIVUS. “We believe that the accomplishment of these
important strategic actions along with the liquidity available
through listing on The Nasdaq Capital Market will be beneficial as
we continue to execute on our strategy to transform VIVUS into a
profitable, sustainable business that creates value for patients
and stockholders. We have worked diligently with our Board
and the employees of VIVUS to ensure we regained Nasdaq compliance,
and we are pleased to have achieved this important objective.”
About VIVUS
VIVUS is a biopharmaceutical company committed to the
development and commercialization of innovative therapies that
focus on advancing treatments for patients with serious unmet
medical needs. For more information about the Company, please visit
www.vivus.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995 and are subject to risks, uncertainties and other factors,
including risks and uncertainties related to potential change in
our business strategy to enhance long-term stockholder value; risks
and uncertainties related to our ability to address or potentially
reduce our outstanding balance of the convertible notes due in
2020; risks and uncertainties related to the timing, strategy,
tactics and success of the marketing and sales of PANCREAZE; risks
and uncertainties related to our commercialization of PANCREAZE as
a new product and our recently changed management team initiating
the commercialization of PANCREAZE; risks and uncertainties related
to our, or our partner's, ability to successfully commercialize
Qsymia; risks and uncertainties related to the impact, if any, of
changes to our Board of Directors and senior management team; and
risks and uncertainties related to our ability to retain compliance
with Nasdaq listing requirements. These risks and uncertainties
could cause actual results to differ materially from those referred
to in these forward-looking statements. The reader is cautioned not
to rely on these forward-looking statements. Investors should read
the risk factors set forth in VIVUS’ Form 10-K for the year ended
December 31, 2017 as filed on March 14, 2018, and as amended by the
Form 10-K/A filed on April 26, 2018, and periodic reports filed
with the Securities and Exchange Commission. VIVUS does not
undertake an obligation to update or revise any forward-looking
statements.
VIVUS, Inc.Mark Oki Chief Financial
Officer oki@vivus.com650-934-5200
Investor Relations: Lazar PartnersDavid
CareyManaging
Directordcarey@lazarpartners.com 212-867-1768
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