The letter further stated that the company has been provided 180 calendar days, or until Dec. 13, to regain compliance with the $1 per share bid price requirement. To regain compliance with the bid price requirement, the bid price of the company’s common stock must close at or above $1 per share for a minimum of ten consecutive trading days prior to Dec. 13.
If by that time the company has not regained compliance with the minimum bid price requirement, it may be granted an additional 180-day grace period to regain compliance under applicable Nasdaq rules, provided it meets the Nasdaq SmallCap Market initial listing criteria (other than the minimum bid price requirement) at that time.
Precision Optics develops advanced optical instruments, designs and produces optical thin film coatings, medical instruments and other advanced optical systems. The company’s medical instrumentation line includes laparoscopes, arthroscopes and endocouplers and a line of 3-D endoscopes for use in minimally invasive surgical procedures.
I-Flow to partner with Tulane
I-Flow (Lake Forest, California) reported that the company would partner with Tulane University Health Sciences Center (New Orleans) to conduct an animal study to evaluate the antimicrobial benefits of ON-Q. If this research yields positive results, this may expand the use of ON-Q beyond today’s labeling of significantly reducing pain and narcotics intake after surgery.