Navigation Links
WorldHeart Receives Notice From the NASDAQ Stock Market Regarding Non-Compliance With Marketplace Rule 4310(c)(7)
Date:11/4/2008

OAKLAND, Calif., Nov. 4 /PRNewswire-FirstCall/ -- (Nasdaq: WHRTD) -- World Heart Corporation (the "Company") announced today that, on October 29, 2008, it had received a NASDAQ Staff Deficiency Letter indicating that the Company does not comply with Marketplace Rule 4310(c)(7). This rule requires the Company to maintain a minimum of 500,000 publicly held shares for continued listing on the NASDAQ Capital Market. For purposes of this requirement, the number of publicly held shares excludes shares held by affiliates, including officers, directors, or ten percent shareholders. The NASDAQ staff is reviewing the Company's eligibility for continued listing on the NASDAQ Capital Market and had asked the Company to provide, on or before November 21, 2008, the Company's specific plan to achieve and sustain compliance with all the NASDAQ Capital Market listing requirements, including the time frame for completion of the plan. As has been previously disclosed, the Company intends to file a registration statement to register certain shares held by affiliates and others that were issued or are issuable in connection with the previously announced US$30 million private placement transaction and recapitalization. Once the shares to be covered by the registration statement are registered, the Company expects that sales in the open market will result in an increase in the number of publicly held shares. The Company also intends to submit a specific plan to achieve and sustain compliance with Marketplace Rule 4310(c)(7) by November 21, 2008.

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 in 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 Announces Effectiveness of Reverse Stock Split
2. WorldHeart Receives Favorable Decision to Continue NASDAQ Listing
3. WorldHeart Receives Non-Compliance Letter From NASDAQ Stock Market
4. WorldHeart Announces Voluntary Delisting from the Toronto Stock Exchange
5. WorldHeart Announces Possible Delisting Action by NASDAQ
6. WorldHeart Notified of TSX Delisting Review
7. WorldHeart Appoints David Pellone Chief Financial Officer
8. Mylan Receives Final Approval for First-to-File Generic Version of Antiepileptic Keppra(R) and Launches Immediately
9. New Skin Rejuvenation Discovery Receives Commercial Backing
10. Video: Cephalon Receives FDA Approval for TREANDA to Treat Patients with Relapsed Indolent Non-Hodgkins Lymphoma
11. LifeNet Health Receives FDA Clearance for New Cardiovascular Technology
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/21/2017)... ... September 21, 2017 , ... The American ... Health Services for professionals in the addiction treatment industry entitled: Special Investigations ... , Insurance companies and state and federal governments are increasingly scrutinizing the addiction ...
(Date:9/21/2017)... ... September 21, 2017 , ... ... communities, nine governmental public health departments have been awarded five-year accreditation status through ... that the benefits of being served by a PHAB-accredited health department now ...
(Date:9/21/2017)... ... September 21, 2017 , ... Innovatum will demonstrate capabilities of ... Healthcare Conference 2017 in Chicago, IL on October 17-19, 2017. This unique development ... improving patient safety. , Microscan , a global technology leader in ...
(Date:9/21/2017)... ... September 21, 2017 , ... Japanese Zen artist couple, Fumie and Kentaro Mune, ... and 8th October at Miranda Kuo Gallery on Lower East Side, NYC. This exhibition ... Kodo mat. Wanderlust , one of the largest US yoga online media outlets ...
(Date:9/21/2017)... ... September 21, 2017 , ... Sagora Senior Living, ... Isle at Kingwood Assisted Living and Memory Care located at 24025 Kingwood Place ... 55 assisted living apartments, 43 memory care apartments and 23 extended care apartments. ...
Breaking Medicine News(10 mins):
(Date:9/7/2017)... 2017   BioLife Solutions , Inc. (NASDAQ: ... clinical grade cell and tissue hypothermic storage and ... Rice , President and CEO, will be presenting at two ... & Renshaw 19 th Annual Global Investment Conference on ... Pacific time). The conference is being held at the New ...
(Date:9/6/2017)... , Sept. 6, 2017  Medical professionals ... and skills while treating their patients. Medical ... experience without involving patients. Simulation provides a ... can carry out procedures, refine techniques and ... Integration of new technology, such as augmented ...
(Date:9/6/2017)... NeuroRx, a clinical stage biopharma company developing the first oral ... granted Fast Track status by the US Food and Drug ... by NRX-101 (D-cycloserine + lurasidone). The company will shortly begin ... targeting patients who are admitted to Emergency Departments with ASIB ... ...
Breaking Medicine Technology: