World Heart (Oakland, California) said it received a notice from Nasdaq stating that the company does not comply with the requirement to maintain a minimum market value of publicly held shares of $1 million.

The company will be provided 90 calendar days, until Sept. 23, to regain compliance. If, at any time before Sept. 23, the value of the company's common shares are $1 million or more for a minimum of 10 consecutive trading days, Nasdaq will provide a written notification that the company complies with the rule.

WorldHeart makes mechanical circulatory support systems.