A.P. Pharma Receives Notice of Compliance with Nasdaq Continued Listing Requirements
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Nov. 23, 2009--
A.P. Pharma, Inc. (Nasdaq:APPA), a specialty pharmaceutical company,
today announced that, on November 19, 2009, the Company received notice
from the Nasdaq Listing Qualifications Panel that it has regained
compliance with the shareholders’ equity requirement for continued
listing on the Nasdaq Capital Market.
As announced on September 21, 2009, the Company received notice from The
Nasdaq Stock Market that it did not satisfy the $1.00 minimum bid price
requirement, and that the Company has been granted through March 15,
2010 to regain compliance with the minimum bid price requirement. If the
Company is not in compliance with the minimum bid price requirement by
that date, the Company will be entitled to a second 180-calendar day
grace period, through September 13, 2010, to evidence compliance with
the minimum bid price requirement so long as the Company satisfies all
criteria for initial listing on The Nasdaq Capital Market (except for
bid price) as of March 15, 2010.
About A.P. Pharma
A.P. Pharma is a specialty pharmaceutical company developing products
using its proprietary Biochronomer™ polymer-based drug delivery
technology. The Company’s primary focus is on its lead product
candidate, APF530, for the prevention of chemotherapy-induced nausea and
vomiting (CINV). The New Drug Application (NDA) for APF530 was submitted
to the U.S. Food and Drug Administration (FDA) in May 2009 and accepted
for review in July 2009, at which time the FDA set a Prescription Drug
User Fee Act (PDUFA) date of March 18, 2010. The Company has additional
clinical and preclinical stage programs in the area of pain management,
all of which utilize its bioerodible injectable and implantable delivery
systems. For further information, visit the Company's web site at www.appharma.com.
A.P. Pharma’s Forward-looking Statements
This news release contains "forward-looking statements" as defined by
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties, including
uncertainties associated with timely development, approval, launch and
acceptance of new products, satisfactory completion of clinical studies,
establishment of new corporate alliances, progress in research and
development programs and other risks and uncertainties identified in the
Company's filings with the Securities and Exchange Commission. We
caution investors that forward-looking statements reflect our analysis
only on their stated date. We do not intend to update them except as
required by law.
Source: A.P. Pharma, Inc.
A.P. Pharma, Inc.
John B. Whelan,
Vice President, Finance and Chief Financial Officer
and Media Relations:
Corporate Communications Alliance, LLC