IRIDEX (Mountain View, California) reported that it plans to request a hearing before the NASDAQ listing qualifications panel following the receipt of the expected notice stating that the company is not in compliance with NASDAQ Marketplace Rule 4310(c)(14). This notice was received because the company was not timely in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2007.
The required NASDAQ staff determination notice indicated that the company’s securities will be delisted from the NASDAQ global market unless IRIDEX requests a hearing before a NASDAQ listing qualifications panel. Accordingly, the company is announcing that it is requesting such hearing before the panel to review the NASDAQ Staff Determination notice. Pending a decision by the Panel, IRIDEX’ common stock will remain listed on the NASDAQ Stock Market. However, there can be no assurance that the Panel will grant the company’s request for continued listing.
IRIDEX makes therapeutic-based laser systems, disposable laser probes and delivery devices to treat eye diseases in ophthalmology and skin diseases in dermatology markets.
Neuralstem applies for AMEX listing
Neuralstem (Rockville, Maryland) said it has applied for listing on the American Stock Exchange. Based on recent developments, the company believes that it will meet all the financial and other requirements for listing.
“Moving to the AMEX is the next logical step for Neuralstem; a result of the continuous and significant progress the company has made in each and every phase of its activity, and of an increasing awareness of the company and its prospects on the part of the financial community,” said Richard Garr, Neuralstem president/CEO.
Neuralstem’s patent-protected technology enables the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells into mature, physiologically relevant human neurons and glia.
Emdeon changes name to HLTH
Emdeon (Elmwood Park, New Jersey) said that the company has changed its name to HLTH, effective immediately. The company’s ticker symbol will remain HLTH, traded on the NASDAQ global select market. In connection with the name change, the CUSIP number for the company’s common stock is changing to: 40422Y 101. Stockholders are not required to exchange currently outstanding stock certificates for new stock certificates.
The company agreed to change its name in connection with the sale of a 52% interest in its Emdeon business services unit to General Atlantic last year. Emdeon Business Services will continue to use the Emdeon name.
HLTH’s businesses are comprised of WebMD, Health Corp., ViPS and Porex.
SoCalBio integrates LINC
The Southern California Biomedical Council (SoCalBio; Los Angeles) reported that its board voted unanimously to approve the integration of Orange County’s Life Science Industry Council (LINC) into SoCalBio to maximize the two organizations’ capacity to represent and serve their growing biotech and medical device constituencies in Los Angeles and Orange Counties, Inland Empire and Gold Coast.
LINC was founded in 1993 with the mission of promoting the life-science industry in Orange County through networking and education. Since then, it has built a sizeable network of firms and executives to provide life-science companies with legal, financial, real estate, architectural, marketing, insurance and recruiting support. Additional assistance in the form of manufacturing, R&D and distribution outsourcing was also offered.
SoCalBio is a nonprofit, member-supported trade association.
Future bright for dental implants
Global sales of dental implant systems, fast becoming a preferred restoration for replacement of missing or extracted teeth or as supports for dentures, crowns and bridges, are expected to maintain double-digit growth over the next five years, soaring to more than $4.5 billion, according to a new study released from Kalorama Information (New York).
Sales of dental implants and abutments rose more than 15% in 2006 alone reaching nearly $2 billion, led by Europe, where the popularity of implants saw sales peaking at $760 million or 42% of the global market, the report said.
Advanced bone grafting and regeneration techniques have expanded the possibilities for implant-based restorative dentistry. World sales of dental bone grafts reached $130 million in 2006, up 12% over 2005. The report projects the use of bone grafts will more than double by 2012 with revenues reaching $266 million.
Grafting techniques also make it possible to expand the candidate pool for implants to include a population of patients who are poor candidates for dental implantation due to severe bone resorption.
“With the announcement in March that the FDA approved Medtronic ’s (Minneapolis) InFuse bone graft for certain oral maxillofacial and dental regenerative bone grafting procedures, the future of BMP and increased use of grafts and implants looks very promising,” said Anne Anscomb, the report’s author.