Apricus Biosciences Gets Nasdaq Compliance Notice - Quick Facts

(RTTNews) - Apricus Biosciences, Inc. (APRI), a biopharmaceutical company advancing medicines in urology and rheumatology, said that it has received notice from the Nasdaq Listing Qualifications Staff on November 30, 2016 that due to the company's non-compliance with the $35 million market value of listed securities requirement, it was subject to delisting unless it timely requests a hearing before the Nasdaq Hearings Panel.

The company intends to timely request a hearing before the Panel, which request will stay any delisting action by the staff, pending the Panel's decision.

At the hearing, Apricus Biosciences will present its plan to regain compliance with the market value of listed securities or MVLS requirement within the 180-day discretionary period available to the Panel, ending May 29, 2017.

In accordance with the Nasdaq Listing Rules, Apricus Biosciences was previously granted a 180-calendar day period within which to regain compliance with the MVLS requirement, through November 29, 2016.

In order to demonstrate compliance with the MVLS requirement, the company's MVLS must close at $35 million or more for a minimum of 10 consecutive business days.