Zila Receives Nasdaq Letter Regarding Audit Committee Compliance
January 04 2008 - 5:14PM
Business Wire
Zila, Inc. (NASDAQ:ZILA) today announced that in connection with
the previously announced resignation of David Goldman as a
director, the company has received a letter from the Nasdaq Stock
Market dated January 3, 2008 indicating that the company is no
longer in compliance with Nasdaq�s audit committee requirement as
set forth in Marketplace Rule 4350, which requires that the
company�s Audit Committee be comprised of at least three members,
each of whom are independent. Consistent with Marketplace Rule
4350(d)(4) the company has until the earlier of its next annual
shareholders� meeting or December 17, 2008 to name a third director
as a member of the Audit Committee so that the company regains
compliance with the requirements of Marketplace Rule 4350. The
company said that it expects to fill the vacancy created by Mr.
Goldman�s resignation within the timeframe required by the Nasdaq
Marketplace Rules. About Zila, Inc. Zila, Inc., is a fully
integrated oral diagnostic company dedicated to the prevention,
detection and treatment of oral cancer and periodontal disease.
ViziLite� Plus, the company's flagship product for the early
detection of oral abnormalities that could lead to cancer, is the
first and only adjunctive medical device cleared by the FDA for use
in a population at increased risk for oral cancer. In addition,
Zila designs, manufactures and markets a suite of proprietary
products sold exclusively and directly to dental professionals for
periodontal disease, including the Rota-dent(R) Professional
Powered Brush, the Pro-Select(R) Platinum ultrasonic scaler and a
portfolio of oral pharmaceutical products for both in-office and
home-care use. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements are based largely on Zila's
expectations or forecasts of future events, can be affected by
inaccurate assumptions and are subject to various business risks
and known and unknown uncertainties, a number of which are beyond
the Company's control. Therefore, actual results could differ
materially from the forward-looking statements contained herein. A
wide variety of factors could cause or contribute to such
differences and could adversely affect revenue, profitability, cash
flows and capital needs. There can be no assurance that the
forward-looking statements contained in this press release will, in
fact, transpire or prove to be accurate. For a more detailed
description of these and other cautionary factors that may affect
Zila's future results, please refer to Zila's Form 10-K for its
fiscal year ended July 31, 2007. For more information about the
company and its products, please visit www.zila.com.
Zila (NASDAQ:ZILA)
Historical Stock Chart
From May 2024 to Jun 2024
Zila (NASDAQ:ZILA)
Historical Stock Chart
From Jun 2023 to Jun 2024