NYSE American’s continued listing standards.
On November 1, 2018, BioPharmX Corporation (“Company”) received a notice from NYSE American LLC (“NYSE American”) that NYSE Regulation reviewed the Company’s compliance plan and determined to accept the plan and grant a plan period through September 24, 2019. NYSE Regulation staff will review the Company periodically for compliance with the initiatives outlined in the plan. If the Company is not in compliance with the NYSE American continued listing standards by September 24, 2019, or if the Company does not make progress consistent with the plan during the plan period, NYSE Regulation staff will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the NYSE American Company Guide.
On September 24, 2018, the Company received a notice from the NYSE American that the Company was not in compliance with the stockholders’ equity requirement as forth in Part 10 of the NYSE American Company Guide. The Company reported stockholders’ equity of $4.3 million as of July 31, 2018 and net losses in its five most recent fiscal years ended January 31, 2018.
The Company’s common stock will continue to be listed and traded on the NYSE American during the cure period, subject to the Company’s compliance with the NYSE American’s other applicable continued listing standards. The Company’s stock symbol “BPMX” will be assigned a “.BC” indicator by the NYSE American to signify that the Company currently is not in compliance with the NYSE American’s continued listing standards.
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