Navigation Links
SCOLR Pharma, Inc. Receives Notices From NYSE Amex LLC Regarding Compliance Plan and Listing Standards
Date:11/30/2009

BOTHELL, Wash., Nov. 30 /PRNewswire-FirstCall/ -- SCOLR Pharma, Inc. (NYSE Amex: DDD) announced today that on November 25, 2009, the NYSE Amex LLC (the "Exchange") notified the Company that it had accepted the Company's plan to comply with its previously disclosed listing deficiency under Section 1003(a)(iv) of the Exchange Company Guide. Specifically, the deficiency notice stated that the Company sustained losses which were so substantial in relation to its overall operations or its existing financial resources, or its financial condition had become so impaired that it appeared questionable, in the opinion of the Exchange, as to whether the Company would be able to continue operations or meet its obligations as they mature. In accordance with applicable Exchange requirements, the Company submitted a plan of compliance to the Exchange on October 15, 2009 (with subsequent updates) setting forth the actions it has taken or would take to bring the Company into compliance with the standard set forth in Section 1003(a)(iv) of the Exchange Company Guide by March 15, 2010.

The Company also reported that on November 23, 2009, it received a notice from the Exchange that the Company is not in compliance with the additional continued listing standard of Section 1003(a)(ii) of the Exchange Company Guide which requires stockholders' equity of $4,000,000 for companies with losses from continuing operations in three of its last four fiscal years. The Exchange had previously notified the Company that it was not in compliance with Section 1003(a)(iii) which requires stockholders' equity of $6 million for companies with losses from continuing operations and net losses in its five most recent fiscal years. On September 15, 2009, the Exchange notified the Company that it had accepted the Company's compliance plan and granted the Company an extension until December 27, 2010 to regain compliance with Section 1003(a)(iii) of the Company Guide. Due to the higher stockholders' equity requirement incorporated into the previously accepted plan for compliance with Section 1003(a)(iii) of the Company Guide, the Company is not required to submit an additional plan of compliance in connection with the deficiency relating to the $4,000,000 stockholders' equity standard of Section 1003(a)(ii) of the Company Guide.

As a result, and subject to the requirements discussed below, the Company's listing on the Exchange will be continued pursuant to extension to enable the Company to regain compliance with Section 1003(a)(iv) of the Company Guide by March 15, 2010 and with Sections 1003(a)(ii) and 1003(iii) of the Company Guide by December 27, 2010. The Company will be required to provide the Exchange staff with updates in connection with the initiatives of the plan of compliance at least quarterly or upon the Exchange's request and the Exchange staff will review the Company periodically for compliance with the plan during the extension periods. Failure to make progress consistent with the plan of compliance or to regain compliance with the continued listing standards by the end of the applicable extension periods could result in the Company being delisted from the Exchange. There can be no assurance that the Company will be able to make progress consistent with its plan to regain compliance with the Exchange's continued listing standards in a timely manner, or at all.

The Company's stock trading symbol will remain DDD on NYSE Amex; but will continue to include an indicator (.BC) as an extension to signify noncompliance with the continued listing standards. The .BC indicator will remain as an extension on the trading symbol until the Company has regained compliance with all applicable continued listing standards.

About SCOLR Pharma:

Based in Bothell, Washington, SCOLR Pharma, Inc. is a specialty pharmaceutical company. SCOLR Pharma's corporate objective is to combine its formulation expertise and its patented CDT platform to develop novel pharmaceutical, over-the-counter (OTC), and nutritional products. Our CDT drug delivery platforms are based on multiple issued and pending patents and other intellectual property for the programmed release or enhanced performance of active pharmaceutical ingredients and nutritional products. For more information on SCOLR Pharma, please call 425.368.1050 or visit http://www.scolr.com/.

This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including activities, events or developments that we expect, believe or anticipate will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including our ability to regain compliance with NYSE Amex listing standards in accordance with our plan, our ability to advance development of our potential products and complete research and development, our ability to raise additional funds or enter strategic alliances, the continuation of arrangements with our product development partners and customers, competition, government regulation and approvals, and general economic conditions. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances.


Contact:
Investor Relations
SCOLR Pharma, Inc.
(425) 368-1050 ext. 1080
info@scolr.com

SOURCE SCOLR Pharma, Inc.


'/>"/>
SOURCE SCOLR Pharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. SCOLR Pharma Announces Completion of Patient Enrollment and Dosing for Pivotal Clinical Trial Evaluating Extended Release Ibuprofen
2. SCOLR Pharma, Inc. Reports Third Quarter 2008 Financial Results
3. SCOLR Pharma, Inc. Reports Third Quarter 2009 Financial Results
4. Victory Pharma, Inc. Reports MGX006 Enters Into Pivotal Development Program
5. CB1400, Patented by Canopus BioPharma, Enters Phase II Clinical Trials for the Prevention of Mucositis in Patients With Cancer of the Head and Neck
6. FluoroPharma, Inc. to Report Preclinical Data on Alzheimers Disease and Prostate Cancer PET Imaging Agents
7. DOR BioPharma, Inc. Executes $400,000 Equity Investment Agreement With Numoda Corporation
8. Neurobiological Technologies Partner, Celtic Pharma, Announces Results of XERECEPT(R) Phase 3 Clinical Program
9. Pangu BioPharma, aTyr Pharmas Subsidiary in Hong Kong, Files Three Patent Applications
10. Strativa Pharmaceuticals Development Partner, BioAlliance Pharma, Presents Phase III Study Results of Miconazole Lauriad(R) for the Treatment of Oropharyngeal Candidiasis
11. Northern Light Adds 4,000 Bio-Pharma, Health Sciences and General Business News and Journal Sources from EBSCO Publishing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... 2016 Amgen (NASDAQ: AMGN ) will present ... Conference at 9:15 a.m. ET on Wednesday, Feb. 10, 2016, ... W. Meline , executive vice president and chief financial officer ... the presentation can be accessed from the Events Calendar on ... the webcast will also be available on Amgen,s website for ...
(Date:2/5/2016)... Feb. 5, 2016  ivWatch, a medical devices company, is ... Award granted by Governor Terry McAuliffe,s office. ivWatch ... February 25th at an event to be held at the ... award honors professionals and business that have made significant contributions ... Logo - http://photos.prnewswire.com/prnh/20160205/330117LOGO ...
(Date:2/5/2016)... MILTON, Ontario , Feb. 5, 2016  Aralez ... business combination of POZEN Inc. ("POZEN") and Tribute Pharmaceuticals Canada ... of POZEN and shareholders of Tribute. The combined company ... specialty pharmaceutical company with operations in Canada ... the United States . Under the terms ...
Breaking Medicine Technology:
(Date:2/5/2016)... Florida (PRWEB) , ... February 05, 2016 , ... Steven ... event he has completed every year since it started in 2003. This year, he ... the attention of fellow runners and NBA team the Miami Heat. , This Sunday, ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... company's lighter, sleeker next generation LYNX VR Indoor Trainer with multi-rider capability to ... design and manufacturing not only reduce the weight of the unit, they also ...
(Date:2/5/2016)... ... 2016 , ... Successful recruitment and retention efforts, new collaborations ... have all marked the last 12 months at Roswell Park Cancer Institute (RPCI). ... oldest cancer center, Candace S. Johnson, PhD, outlined the many accomplishments of her ...
(Date:2/5/2016)... ... February 05, 2016 , ... The Muscular ... Louisiana Kitchen restaurants, launched the 14th annual “Appetite for a Cure” campaign on ... muscular dystrophy, ALS and related diseases that severely limit strength and mobility. ...
(Date:2/5/2016)... York, New York (PRWEB) , ... February 05, 2016 , ... ... life? The answer may be at the tips of your toes. Foot massage, whether ... as well as pure comfort and relaxation. The American Board of Multiple Specialties ...
Breaking Medicine News(10 mins):