Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, on June 25, 2019, Valeritas Holdings, Inc. (the
"Company") received a letter (the "MVLS Notice") from the Listing Qualifications
Department of the Nasdaq Stock Market ("Nasdaq") indicating that, based upon
Nasdaq's review of the Market Value of Listed Securities ("MVLS") for the 30
consecutive business days preceding the date of the MVLS Notice, the Company did
not comply with the minimum MVLS of $35 million as set forth in Nasdaq Listing
Rule 5550(b)(2). The Company was provided with a period of 180 calendar days, or
until December 23, 2019, in which to regain compliance with the MVLS
requirement. In lieu of complying with the MVLS requirement, the Company could
also regain compliance with Nasdaq if it achieved stockholders' equity of at
least $2.5 million by December 23, 2019, in accordance with Nasdaq Listing Rule
5550(b)(1) (the "Equity Standard").
On November 18, 2019, the Nasdaq staff (the "Staff") sent a letter to the
Company which stated that, based on the disclosure in the Company's Quarterly
Report on Form 10-Q for the period ended September 30, 2019, evidencing
stockholders' equity of approximately $11.0 million, the Staff has determined
that the Company complies with the Equity Standard. As a result, the Staff
stated that the matter is now closed.
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