Ritter Pharmaceuticals Regains Compliance with Nasdaq’s Minimum Bid Price Requirement
2019年7月12日 - 6:28AM
Ritter Pharmaceuticals, Inc. (Nasdaq: RTTR) (“Ritter
Pharmaceuticals” or the “Company”), a developer of innovative
therapeutic products that modulate the gut microbiome to treat
gastrointestinal diseases, today announced that it has received
written notice from Nasdaq that the Company’s minimum bid price
deficiency has been cured and that the Company is in compliance
with all applicable listing standards. Accordingly, the scheduled
hearing before the Hearings Panel to appeal the previous
determination of non-compliance has been cancelled.
The Company regained compliance with the minimum
bid price requirement as a result of its common stock’s closing bid
price having been at or above the minimum requirement
of $1.00 per share for a minimum of ten consecutive
trading days. Shares of Ritter Pharmaceuticals will continue to
trade on the Nasdaq Capital Market under the ticker symbol
“RTTR.”
As previously reported, the Company received a
written notice (the “Initial Notice”), dated December 26, 2018,
from the Listing Qualifications department of Nasdaq indicating
that the bid price of the Company’s common stock for the prior 30
consecutive business days had closed below the minimum $1.00 per
share required for continued listing on the Nasdaq Capital Market.
The Initial Notice provided the Company 180 calendar days in which
to regain compliance with the minimum bid price requirement. The
Company was unable to regain compliance with the minimum bid price
requirement during the compliance period, which ended on June 24,
2019. On June 26, 2019, the Company received written notice from
Nasdaq notifying it that it had not regained compliance with the
minimum bid price requirement and that it was not eligible for a
second 180-day grace period to regain compliance because the
Company did not comply with the $5,000,000 stockholders’ equity
initial listing requirement or equivalent standards for The Nasdaq
Capital Market. The Company appealed the determination to the
Nasdaq Hearings Panel and requested a hearing before the panel.
About Ritter
PharmaceuticalsRitter Pharmaceuticals, Inc.
(www.RitterPharma.com, @RitterPharma) develops innovative
therapeutic products that modulate the gut microbiome to treat
gastrointestinal diseases. The Company’s lead product candidate,
RP-G28, has the potential to become the first FDA-approved
treatment for lactose intolerance, a condition that affects over
one billion people worldwide. RP-G28 is in Phase 3 clinical
development with its first Phase 3 clinical trial, known as
“Liberatus,” currently in its finalization stage with top-line data
expected in early Q4 2019. The Company is further exploring the
therapeutic potential that gut microbiome changes may have on
treating/preventing a variety of diseases including
gastrointestinal diseases, cancer, metabolic, and liver
disease.
Forward-Looking StatementsThis
press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that express the current beliefs and expectations of Ritter
Pharmaceuticals’ management. Any statements contained herein that
do not describe historical facts are forward-looking statements,
including statements related to our anticipated timing for the
release of data from our Liberatus clinical trial. Forward-looking
statements are subject to risks and uncertainties that could cause
actual results, performance and achievements to differ materially
from those discussed in such forward-looking statements. Some of
the factors that could affect our actual results are included in
the periodic reports on Form 10-K and Form 10-Q that we file with
the Securities and Exchange Commission. The Company cautions
readers not to place undue reliance on any forward-looking
statements, which speak only as of the date they were made. The
Company undertakes no obligation to update or revise
forward-looking statements, except as otherwise required by law,
whether as a result of new information, future events or
otherwise.
ContactsInvestor Contact: John Beck
310-203-1000 john@ritterpharma.com
Ritter Pharmaceuticals (NASDAQ:RTTR)
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