Monday, August 21, 2017 6:30:27 PM
On August 15, 2017 DCTH received written notification from the Listing Qualifications Staff of The NASDAQ
REPLY BY DCTH =The Company intends to timely request a hearing before the Panel, which request will stay any suspension or desisting action by Nasdaq at least until the hearing process concludes and any extension granted by the Panel expires.
SO DCTH TIMELY REQUESTED HEARING
On August 15, 2017, Delcath Systems, Inc, Inc. (the “Company”) received written notification from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that, based upon the Company’s continued non-compliance with the minimum stockholder’s equity requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b)(2) (the “Rule”), the Staff had determined to delist the Company’s securities from Nasdaq (the “Staff Determination”) unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”).
The Company intends to timely request a hearing before the Panel, which request will stay any suspension or delisting action by Nasdaq at least until the hearing process concludes and any extension granted by the Panel expires. At the hearing, the Company will present its plan to evidence compliance with the Rule, and request an extension of time within which to do so.
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