ArthroCare receives Nasdaq determination letter
ArthroCare (Austin, Texas) said that, as expected, it received an additional Nasdaq staff determination letter on Nov. 12 in connection with the company's inability to timely file its quarterly report on Form 10-Q with the Securities and Exchange Commission for the period ended Sept. 30. The letter states that the company is not in compliance with Nasdaq marketplace rule 4310(c)(14), and that this issue may serve as an additional basis for the Nasdaq listing qualifications panel to delist its common stock from Nasdaq.
ArthroCare makes minimally invasive surgical products.
Accuray receives Nasdaq compliance notice
Accuray (Sunnyvale, California), a specialist in the field of radiosurgery, said it received a notice from Nasdaq on Nov. 14 stating that it is not in compliance with the Nasdaq Marketplace Rule 4310 (c) (14) because the company has not timely filed its report on Form 10-Q for the fiscal quarter ended Sept. 27.
Within 60 calendar days following receipt of the notice, Accuray will either file its Form 10-Q or submit to Nasdaq a plan to regain compliance. If a plan of compliance is submitted, the Nasdaq staff will review that submission and could grant an exception of up to 180 days from the due date of the quarterly report on Form 10-Q for correcting the non-compliance.
As noted on Nov. 6, Accuray has delayed the filing of its Form 10-Q for the fiscal quarter ended Sept. 27 due to an ongoing investigation related to inventory. The company intends to file its Form 10-Q for the quarter "as soon as practicable" following the conclusion of the investigation.