Anthera Pharmaceuticals Announces Receipt of Nasdaq Listing Determination Notice and Plans Appeal
November 17 2017 - 3:05PM
Anthera Pharmaceuticals, Inc. (Nasdaq:ANTH) announced today
that it has received a letter from the Listing Qualifications Staff
(the “Staff”) of The NASDAQ Stock Market (“Nasdaq”) indicating
that, based upon its non-compliance with Listing Rule 5450(b)(1)(A)
(the “Minimum Stockholders’ Equity Rule”), Anthera’s securities
would be delisted from Nasdaq unless Anthera timely requests a
hearing before the Nasdaq Hearings Panel (the “Panel”).
Anthera plans to appeal the Staff’s determination and intends to
timely request a hearing, which request will stay any suspension or
delisting action by the Staff at least pending the conclusion of
the hearing process and expiration of any extension that may be
granted to Anthera by the Panel.
If the Panel does not grant Anthera’s request for continued
listing on The Nasdaq Global Market, Anthera may request that the
Panel transfer the listing of its securities to The Nasdaq Capital
Market pursuant to an extension provided Anthera meets the
inclusion requirements for that market. Anthera’s common stock will
continue to trade on Nasdaq under the symbol "ANTH" at least
pending the ultimate conclusion of the hearing process. Anthera
intends to provide further update when additional relevant
information becomes available.
About Anthera Pharmaceuticals
Anthera Pharmaceuticals is a clinical-stage biopharmaceutical
company focused on developing products to treat serious and
life-threatening diseases, including exocrine pancreatic
insufficiency and IgA nephropathy. Additional information on
Anthera can be found at www.anthera.com.
Safe Harbor Statement
Any statements contained in this press release that refer to
future events or other non-historical matters, including statements
that are preceded by, followed by, or that include such words as
"estimate," "intend," "anticipate," "believe," "plan," "goal,"
"expect," "project," or similar statements, are forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such
statements are based on Anthera's expectations as of the date
of this press release and are subject to certain risks and
uncertainties that could cause actual results to differ materially,
including but not limited to those set forth in Anthera's public
filings with the SEC, including Anthera's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2017. Anthera
disclaims any intent or obligation to update any forward-looking
statements, whether because of new information, future events or
otherwise, except as required by applicable law.
CONTACT:
Investor Relations of Anthera Pharmaceuticals,
Inc.ir@anthera.com
For Media Inquiries:Frannie Marmorstein,
305-567-0821frannie.marmorstein@rbbcommunications.com
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Source: Anthera Pharmaceuticals, Inc.
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