Ocugen Inc. Regains Compliance with Nasdaq Bid Price Rule
January 08 2021 - 3:17PM
Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on
discovering, developing, and commercializing gene therapies to cure
blindness diseases and developing a vaccine to fight COVID-19,
today received formal notification from The Nasdaq Stock Market LLC
("Nasdaq") that the Company has regained compliance with Listing
Rule 5550(a)(2).
Previously, on December 27, 2019, Nasdaq had notified the
Company that its common stock failed to maintain a minimum bid
price of $1.00 over the previous 30 consecutive business days as
required by the Listing Rules of The Nasdaq Stock Market. In order
to regain compliance with Rule 5550(a)(2), the Company was required
to maintain a minimum closing bid price of $1.00 or more for at
least 10 consecutive trading days. On September 8, 2020, Nasdaq had
granted the Company an additional 180-days, or until March 8, 2021,
to regain compliance. Since then, for the 10 consecutive business
days from December 23, 2020 to January 7, 2021, the closing bid
price of the Company’s common stock has been at $1.00 per share or
greater. Accordingly, Nasdaq has informed the Company that it has
regained compliance with Listing Rule 5550(a)(2), and this matter
is now closed.
About Ocugen, Inc.Ocugen, Inc. is a
biopharmaceutical company focused on discovering, developing, and
commercializing gene therapies to cure blindness diseases and
developing a vaccine to fight COVID-19. Our breakthrough modifier
gene therapy platform has the potential to treat multiple retinal
diseases with one drug – “one to many,” and our novel biologic
product candidate aims to offer better therapy to patients with
underserved diseases such as wet age-related macular degeneration,
diabetic macular edema, and diabetic retinopathy. For more
information, please visit www.ocugen.com.
Cautionary Note on Forward-Looking
StatementsThis press release contains
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995, which are subject to
risks and uncertainties. We may, in some cases, use terms such as
“predicts,” “believes,” “potential,” “proposed,” “continue,”
“estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,”
“could,” “might,” “will,” “should” or other words that convey
uncertainty of future events or outcomes to identify these
forward-looking statements. Such statements are subject to numerous
important factors, risks and uncertainties that may cause actual
events or results to differ materially from our current
expectations. These and other risks and uncertainties are more
fully described in our periodic filings with the Securities and
Exchange Commission (the “SEC”), including the risk factors
described in the section entitled “Risk Factors” in the quarterly
and annual reports that we file with the SEC. Any forward-looking
statements that we make in this press release speak only as of the
date of this press release. Except as required by law, we assume no
obligation to update forward-looking statements contained in this
press release whether as a result of new information, future events
or otherwise, after the date of this press release.
Corporate Contact:Ocugen, Inc.Sanjay
SubramanianChief Financial OfficerIR@Ocugen.com
Media Contact: LaVoieHealthScience Emmie
Twomblyetwombly@lavoiehealthscience.com+1 857-389-6042
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