Navigation Links
WorldHeart Receives Favorable Decision to Continue NASDAQ Listing
Date:9/15/2008

OAKLAND, Calif., Sept. 15 /PRNewswire-FirstCall/ -- (Nasdaq: WHRT) World Heart Corporation ("WorldHeart") announced today that on September 11, 2008, following a review by a NASDAQ Listing Qualifications Panel, NASDAQ has determined that WorldHeart's common stock will continue to be listed on The Nasdaq Capital Market. Additionally, on September 9, 2008, WorldHeart received a letter from the NASDAQ stating that the Company has regained compliance with the requirement to have a minimum market value of publicly held shares ("MVPHS") of $1,000,000 for at least 10 consecutive trading days as required by the The Nasdaq Capital Market pursuant to Marketplace Rule 4310(c)(7).

As previously disclosed on June 25, 2008, the Company received a staff deficiency letter from the NASDAQ informing the Company that for the previous 30 consecutive trading days it had not maintained the minimum market value of publicly held shares of $1,000,000 and that the Company had 90 calendar days, or until September 23, 2008, to regain compliance. That matter is now closed.

As previously disclosed on July 31, 2008, WorldHeart completed a $30.0 million private placement transaction and recapitalization that resulted in the issuance of 300,000,000 common shares. This private placement cured the Company's shareholders' equity deficiency or non-compliance with Marketplace Rule 4310(c)(3), previously announced on March 31, 2008. In addition, announced on August 21, 2008, the Company initiated a phased consolidation plan which the Company expects will reduce its expenses and increase the likelihood that the Company will maintain compliance in the longer term. The Company remains within the grace period for its bid price deficiency (through October 27, 2008), but has filed a proxy statement seeking shareholder approval for a reverse stock split to increase its share price and cure its bid price deficiency set forth under Marketplace Rule 4310(c)(4).

About World Heart Corporation

WorldHeart is a developer of mechanical circulatory support systems. WorldHeart is headquartered in Oakland, California, USA with additional facilities in Salt Lake City, Utah and Herkenbosch, The Netherlands. WorldHeart's registered office is Ottawa, Ontario, Canada.

Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements regarding WorldHeart's ability to regain compliance with The Nasdaq Capital Market listing requirements, as well as other statements that can be identified by the use of forward-looking language, such as "believes," "feels," "expects," "may," "will," "should," "seeks," "plans," "anticipates," or "intends" or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: WorldHeart's need for additional capital in the future; risks in product development and market acceptance of and demand for WorldHeart's products; delisting from the NASDAQ Stock Market if compliance with the listing standards, including the Minimum Bid Price Rule and other minimum standards, is not regained; and other risks detailed in WorldHeart's filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-KSB/A for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2008 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2008.


'/>"/>
SOURCE World Heart Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. WorldHeart Receives Non-Compliance Letter From NASDAQ Stock Market
2. WorldHeart Announces Voluntary Delisting from the Toronto Stock Exchange
3. WorldHeart Announces Possible Delisting Action by NASDAQ
4. WorldHeart Notified of TSX Delisting Review
5. WorldHeart Appoints David Pellone Chief Financial Officer
6. Tianyin Pharmaceutical Co., Inc. Receives Chinese SFDA Approval for Laonian Kechuan Tablets
7. UNC receives record $181 million grant to evaluate health, poverty and gender programs worldwide
8. Arthrosurface HemiCAP(R) Focal Knee Resurfacing Implant Receives FDA Approval to Move into Final Investigational Stage
9. College of American Pathologists' Education Division Receives Top Honor
10. CMS, Inc., an Elekta Company, Receives FDA 510(k) Clearance for Atlas-Based Autosegmentation Software
11. Cymbalta Receives European Approval for the Treatment of Generalised Anxiety Disorder
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/13/2016)... ... ... With FCPX Overlay Embers from Pixel Film Studios users can now apply ... user can select from up to 40 effect overlays. With FCPX Overlay Embers users ... value, contrast, glow, and more all within a click of a mouse. , ...
(Date:2/13/2016)... ... , ... When an Au Pair comes all the way around the world to ... and they are often worried things won’t go well. More often than not, however, they ... Pair of the Year winner’s all commented how their Au Pairs have become a part ...
(Date:2/12/2016)... ... February 12, 2016 , ... Mystic Buddha Publishing House presents Valentine’s ... Buddha, the biography of Rama - Dr. Frederick Lenz. , According to ... of a Buddhist teacher for teaching and helping others. Valentine’s Day celebrates love ...
(Date:2/12/2016)... ... ... , Back to the Future , Feb. 25, 2016 — 11:00 a.m. – 12:30 p.m. ... learn from history are doomed to repeat it.” , An analysis of CDRH’s enforcement actions ... takes time. , Take a close look at the warning letters the agency sent ...
(Date:2/12/2016)... ... ... Coco Libre, the maker of coconut water beverages with a purpose, is ... Coco Libre will offer musicians and celebrities the company’s signature Organic Coconut Water, a ... suite, held this year at the W Hollywood Hotel, has become a pre-show “must” ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... -- Memorial Hermann Health System has teamed up with Houston ... a one-of-a-kind experience to pediatric patients at Children,s ... 360-degree video and Google Cardboard, Howard was able to ... the patients and their families an unexpected, and energetically ... video . Memorial Hermann IRONMAN Sports ...
(Date:2/12/2016)... 12, 2016  Aralez Pharmaceuticals Inc. (Nasdaq: ARLZ ... Company will ring the Nasdaq Closing Bell at the ... at 4:00 p.m. ET on Tuesday, February ... Adrian Adams , will perform the honorary ... 4:00 p.m. ET.  A live webcast will be available ...
(Date:2/12/2016)... 12, 2016 --> ... Chronic Inflammation Global Clinical Trials Review, H2, 2015 ... global clinical trials landscape along with top level ... Country (G7 & E7), Trial Status, Trial Phase, ... top companies involved and enlists all trials (Trial ...
Breaking Medicine Technology: