ADDISON, Texas, March 11, 2011 /PRNewswire/ -- ULURUInc.(NYSE Amex: ULU), a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products, today reported that it has received notice from NYSE Amex LLC (the "Exchange") advising ULURU that it is not in compliance with a certain condition of the Exchange's continued listing standards under Section 1003 of the Exchange's Company Guide (the "Company Guide").
In a letter to ULURU, the Exchange stated that it is concerned that ULURU's common stock, as a result of its low selling price, may not be suitable for auction market trading. Therefore, pursuant to Section 1003(f)(v) of the Company Guide, ULURU's continued listing is predicated on it effecting a reverse stock split of its common stock by no later than June 7, 2011. As a result of the foregoing, ULURU has become subject to the procedures and requirements of Section 1009 of the Company Guide.
ULURU intends to satisfy the Exchange's continued listing standards by presenting a proposal and resolution to be approved by its shareholders, to effect a reverse stock split of ULURU's common stock, at ULURU's next annual meeting of shareholders to be held no later than June 1, 2011.
AboutULURUInc.:ULURUInc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex™ Aggregate technology and OraDisc™ transmucosal delivery system. For further information about ULURU Inc., please visit our website at www.ULURUinc.com. For further information about Altrazeal®, please visit www.Altrazeal.com.
This press release contains certain statements t
|SOURCE ULURU Inc.|
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