NovaBay Pharmaceuticals Receives Noncompliance Notice from NYSE MKT
May 19 2017 - 3:05PM
Business Wire
NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY) today announced
receipt of a letter from NYSE MKT LLC (“NYSE MKT” or the
“Exchange”) on May 16, 2017, stating that it is not in compliance
with the continued listing standards (requiring stockholders’
equity of $6.0 million or more if it has reported losses from
continuing operations and/or net losses in its five most recent
fiscal years) as set forth in Section 1003(a)(iii) of the NYSE MKT
Company Guide (“Company Guide”).
In order to maintain its listing, NovaBay Pharmaceuticals must
submit a plan of compliance by June 15, 2017, addressing how it
intends to regain compliance with Section 1003(a)(iii) of the
Company Guide.
The Company intends to submit a plan to regain compliance with
NYSE MKT listing standards. If the plan is not accepted, delisting
proceedings will commence. If the plan is accepted, the Company’s
common stock will continue to be listed on the NYSE MKT during the
plan period. However, if the Company does not regain compliance
with those standards or does not make progress consistent with the
plan, the NYSE MKT staff may commence delisting proceedings.
About NovaBay Pharmaceuticals, Inc.: Going Beyond
Antibiotics®
NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX® family of products and the
AGANOCIDE® compounds. The Neutrox family of products includes
AVENOVA® for the eye care market, NEUTROPHASE® for wound care
market, and CELLERX® for the aesthetic dermatology market. The
Aganocide compounds, still under development, have target
applications in the dermatology and urology markets.
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NovaBay ContactsFor NovaBay
Avenova purchasing information, please
contact:800-890-0329www.Avenova.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170519005093/en/
NovaBay Pharmaceuticals,
Inc.Thomas J. PaulsonChief Financial
Officer510-899-8809Contact TomorInvestor
ContactLHAJody Cain310-691-7100Jcain@lhai.com
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