Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Receives NASDAQ Deficiency Notice Related to Minimum Bid Price

Abstract:
Arrowhead Research Corporation (NASDAQ:ARWR) today announced that it has received a deficiency letter from the NASDAQ Stock Market indicating that based on the Company's closing bid price for the last 30 consecutive business days, the Company does not comply with the $1.00 minimum bid price as set forth in NASDAQ Marketplace Rule 5550(a)(2).

Arrowhead Receives NASDAQ Deficiency Notice Related to Minimum Bid Price

PASADENA, CA | Posted on September 19th, 2009

In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), Arrowhead has been provided a grace period of 180 calendar days, or until March 15, 2010, to regain compliance by maintaining a minimum closing bid price of $1.00 per share for 10 consecutive business days. The NASDAQ deficiency notice has no effect on the listing of the Arrowhead's common stock at this time and Arrowhead will seek to regain compliance within the grace period.

If Arrowhead does not meet the minimum bid requirement during the initial 180-day grace period, the Company will be notified by NASDAQ that its common stock will be subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of the bid price, for The NASDAQ Capital Market. If the Company meets the initial listing criteria, NASDAQ will notify the Company that it has been granted an additional 180 calendar day grace period.

"We continue to be optimistic about our businesses' near-term prospects and are comfortable with their development paths," said Chris Anzalone, Arrowhead's President and CEO. "The NASDAQ grace period provides a long runway to March 15, 2010 for the increase of our stock price through natural growth. Therefore, we have no immediate plans to rely on a reverse split of our stock to achieve the minimum bid price."

NASDAQ had previously implemented a temporary suspension of this listing requirement on October 16, 2008. The temporary suspension was lifted on July 31, 2009. During the period of the temporary suspension the Company was not considered to be out of compliance with this continued listing requirement.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ:ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority owned subsidiaries. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and minority investments in two privately held nanobiotech companies.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties. For example, there can be no assurance that we will be able to maintain our listing on any NASDAQ market, that our financial initiatives will succeed or that we will be able to continue to operate as a going concern. Arrowhead Research Corporation's Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statements on Form S-3, and other SEC filings discuss these and other important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements.

For more information, please click here

Contacts:
Investor Relations Contact:
The Piacente Group, Inc.
Brandi Floberg, 212-481-2050

Copyright © Business Wire 2009

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Nanostructures Increase Corrosion Resistance in Metallic Body Implants May 24th, 2015

Iranian Scientists Use Magnetic Field to Transfer Anticancer Drug to Tumor Tissue May 24th, 2015

Basel physicists develop efficient method of signal transmission from nanocomponents May 23rd, 2015

This Slinky lookalike 'hyperlens' helps us see tiny objects: The photonics advancement could improve early cancer detection, nanoelectronics manufacturing and scientists' ability to observe single molecules May 23rd, 2015

Investments/IPO's/Splits

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Nanometrics Announces Live Webcast of Upcoming Investor and Analyst Day May 20th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

Harris & Harris Group Portfolio Company OpGen Raises $17.1 Million in Initial Public Offering May 6th, 2015

Announcements

Nanostructures Increase Corrosion Resistance in Metallic Body Implants May 24th, 2015

Iranian Scientists Use Magnetic Field to Transfer Anticancer Drug to Tumor Tissue May 24th, 2015

Basel physicists develop efficient method of signal transmission from nanocomponents May 23rd, 2015

This Slinky lookalike 'hyperlens' helps us see tiny objects: The photonics advancement could improve early cancer detection, nanoelectronics manufacturing and scientists' ability to observe single molecules May 23rd, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project