Guardion Health Sciences Regains Compliance with Nasdaq Minimum Bid Price Rule
March 16 2021 - 08:00AM
Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the
“Company”), a clinical nutrition and diagnostics company that
develops clinically supported nutritional supplements, medical
foods, and medical devices, announced that it has regained
compliance with the minimum bid price requirement for continued
listing on The Nasdaq Capital Market pursuant to Listing Rule
5550(a)(2) (the “Minimum Bid Price Rule”). On March 15, 2021,
Guardion received a letter from the Office of General Counsel of
The Nasdaq Stock Market LLC (“Nasdaq”) stating that because
Guardion’s Company’s common stock (the “Common Stock”) had a
closing bid price at or above $1.00 per share for a minimum of ten
(10) consecutive trading days, its Common Stock had regained
compliance with Nasdaq’s Minimum Bid Price Rule.
On September 20, 2019, the Company received
notice from Nasdaq indicating that, based upon the closing bid
price of the Common Stock, the Company no longer satisfied the
Minimum Bid Price Rule. The Company was afforded 180 calendar days,
or until March 18, 2020, to regain compliance with the Minimum Bid
Price Rule. Thereafter, the Company was afforded a second 180
calendar day compliance period (which 180-day period was extended
due to circumstances related to COVID-19), or until November 30,
2020, to regain compliance with the Minimum Bid Price Rule.
The Company was unable to regain compliance with
the Minimum Bid Price Rule by November 30, 2020. Accordingly, on
December 1, 2020, the Company received a letter from Nasdaq
notifying it that its Common Stock would be subject to delisting
from Nasdaq unless the Company timely requested a hearing before a
Nasdaq Listing Qualifications Panel (the “Panel”). The Company
timely requested the hearing.
Following the hearing, on January 26, 2021, the
Company received written notification that the Panel had granted
the Company an extension for continued listing through March 15,
2021. As referenced above, Nasdaq determined that the Company
complied with the Panel’s decision and has regained compliance.
Accordingly, Nasdaq has closed the compliance review.
About Guardion Health
Sciences
Guardion Health Sciences, Inc. (NASDAQ: GHSI),
is a clinical nutrition and diagnostics company. Guardion offers a
portfolio of science-based, clinically supported nutrition, medical
foods, and diagnostic products that support healthcare
professionals, their patients, and consumers in achieving health
goals. Guardion’s commercial and developmental initiatives are
supported by equally impressive scientific and medical advisory
boards, led by seasoned business executives and physicians with
many years of experience. This combination of expertise and
scientific knowledge forms the foundation of Guardion’s growing
position within the eye care industry and the clinical nutrition
marketplace. Information and risk factors with respect to Guardion
and its business, including its ability to successfully develop and
commercialize its proprietary products and technologies, may be
obtained in the Company’s filings with the U.S. Securities and
Exchange Commission (the “SEC”) at www.sec.gov.
Forward-Looking Statement
Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain forward-looking statements 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. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. These statements involve unknown risks and uncertainties
that may individually or materially impact the matters discussed
herein for a variety of reasons that are outside the control of the
Company, including, but are not limited to, the Company’s ability
to raise sufficient financing to implement its business plan, the
integration of a new management team, the impact of the COVID-19
pandemic on the Company’s business, operations and the economy in
general, the Company’s ability to successfully develop and
commercialize its proprietary products and technologies, and the
Company’s ability to maintain compliance with Nasdaq’s listing
requirements. Readers are cautioned not to place undue reliance on
these forward-looking statements, as actual results could differ
materially from those described in the forward-looking statements
contained herein. Readers are urged to read the risk factors set
forth in the Company’s filings with the SEC, which are available at
the SEC’s website (www.sec.gov). The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:CORE
IRScott Arnold516-222-2560scotta@coreir.com
Media Relations Contact:Jules
AbrahamDirector of Public RelationsCORE
IR917-885-7378julesa@coreir.com
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