ArthroCare (Austin, Texas) said that it received a Nasdaq staff determination letter on Aug. 13, stating that the company is not in compliance with Nasdaq marketplace rule 4310(c)(14), and that its common stock is therefore subject to delisting.
The letter was issued in accordance with Nasdaq procedures because the company did not timely file its quarterly report on Form 10-Q for the quarter ended June 30. The company is appealing this determination and said it intends to request a hearing before the Nasdaq listing qualifications panel.
Acusphere not in equity compliance
Acusphere (Watertown, Massachusetts) has received a letter from Nasdaq indicating that based on the company's stockholders' equity as reported in its quarterly report on Form 10-Q for the quarter ended June 30, Acusphere does not comply with the minimum stockholders' equity requirement of $10 million for continued listing on the Nasdaq Global Market as set forth in Nasdaq Marketplace Rule 4450(a)(3).
As a result, the company's common stock will be subject to delisting from the Nasdaq Global Market unless Acusphere adequately addresses this deficiency at the company's hearing before the Nasdaq listing qualifications panel scheduled for the first half of September.
Acusphere is a specialty pharmaceutical company.