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:12/10/2016)... ... 10, 2016 , ... The Pennsylvania Athletic Trainers’ Society (PATS) ... other healthcare organizations to promote diabetes education at the World Diabetes Day observance. ... of speakers from around the Commonwealth of Pennsylvania. Speakers included Dr. Renu ...
(Date:12/9/2016)... ... December 09, 2016 , ... The American ... audiologists—to remain a critical part of public access to hearing aid technology. , ... announced this week that, starting immediately, it would no longer enforce the ...
(Date:12/9/2016)... , ... December 09, 2016 , ... ... folded, pharmaceutical inserts and outserts. As a means of expanding capabilities Flottman ... will enable Flottman to individually code professional inserts (PIs) and patient package inserts ...
(Date:12/9/2016)... Woodland Hills, CA (PRWEB) , ... December 09, ... ... center for young adults, celebrated its 10th anniversary with the grand opening of ... Hills, California. The successful event spanned two days, December 2-3, and was attended ...
(Date:12/9/2016)... ... December 09, 2016 , ... The ... Hotel in New York, NY, on December 3rd, to benefit Holy Name Medical ... the annual event, which raised over $1 million - the largest event in ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... DIEGO , Dec. 9, 2016 aTyr Pharma, Inc. ... discovery and development of Physiocrine-based therapeutics to address severe, rare diseases, ... at the upcoming BMO Prescriptions for Success Healthcare Conference at the ... on Wednesday, December 14, 2016, at 4:20 p.m. ET. ... ...
(Date:12/9/2016)... Department of Health Secretary Dr. Karen ... dispensaries under Act 16 are slated for publication in ... now available online . "The dispensary temporary ... operation; process for dispensing medical marijuana; security and surveillance ... dispensary facilities can be located," said Secretary Murphy. "Our ...
(Date:12/8/2016)... Dec. 8, 2016 IRIDEX Corporation (NASDAQ: ... issued shares of common stock, $0.01 par value (the "Offering" ... public offering.  The final terms of the Offering will depend ... and there can be no assurance as to whether or ... to use the net proceeds it will receive from this ...
Breaking Medicine Technology: