Hancock Jaffe Announces Positive Nasdaq Listing Determination
September 21, 2020
Extension Granted for Continued Listing
IRVINE, CA / ACCESSWIRE / September 21, 2020 / Hancock Jaffe Laboratories, Inc. (NASDAQ:HJLI), a developer of medical devices that restore cardiac and vascular health, today announced that the Company has received formal notification that the Nasdaq Hearings Panel (the "Panel") has granted the Company's request for continued listing on The Nasdaq Capital Market pursuant to an extension through December 28, 2020, to evidence compliance with the minimum $1.00 bid price requirement.
To evidence compliance with the rule, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of ten, but generally not more than 20, consecutive business days by December 28, 2020. The extension constitutes the full extent of the Panel's discretion in this matter. The Company is taking definitive steps to timely evidence compliance with the terms of the Panel's decision and will provide an update regarding its compliance efforts when available.
About Hancock Jaffe Laboratories, Inc.
HJLI specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases. HJLI currently has two lead product candidates: the VenoValveÒ, a porcine based valve which is intended to be surgically implanted in the deep venous system of the leg to treat reflux associated with Chronic Venous Insufficiency; an
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