NASDAQ Archives - Medical Design Sourcing

Nasdaq grants Titan Medical 180-day extension to regain compliance

Titan Medical (Nasdaq:TMDI) announced today that it received an additional 180 days to regain compliance with the Nasdaq market.

According to a news release, the Listing Qualifications Staff of The Nasdaq Stock Market notified the company that it received 180 extra calendar days — running through Dec. 26, 2022 — to evidence compliance with the $1 minimum bid price requirement for continued listing on the market.

Shares of TMDI were down 7.3% at close to 54¢ per share in mid-afternoon trading today.

If at any time before Dec. 26, the bid price for the company’s common shares closes at or above $1 per share for a minimum of 10 consecutive business days (and generally not more than 20 consecutive business days, in Nasdaq’s discretion), it is expected that Nasdaq would provide formal notice that the company has regained compliance with the bid price requirement.

Should Titan not evidence compliance with the minimum bid …

Conformis could face Nasdaq delisting

Conformis (NSDQ:CFMS) announced today that it is not in compliance with the minimum bid price requirement for continued Nasdaq listing.

The company received a letter from Nasdaq on Dec. 31, 2021, notifying it that the closing bid price for its common stock had been below $1 for the previous 30 consecutive business days, meaning Conformis is not in compliance with the requirement for continued inclusion on the market.

According to a news release, the notification has no immediate effect on the listing of the Billerica, Massachusetts-based company’s common stock on the Nasdaq market.

Under the Nasdaq rules, Conformis has 180 calendar days to regain compliance by having its common stock trade at $1 or higher for a minimum of 10 consecutive business days. If the company does not regain compliance by June 29, 2022, it may be eligible for an additional 180 calendar days if it meets the continued listing requirement for the market value of publicly held s…

Nasdaq halts trading of TransMedics stock with FDA set to review OCS Liver System

TransMedics (NSDQ:TMDX) announced today that the Nasdaq market halted trading of the company’s common stock.

Andover, Mass.-based TransMedics, which develops organ transplant transportation platforms, saw its common stock close down -5.3% at $31.69 yesterday.

The company awaits the outcome of today’s meeting of the FDA’s Gastroenterology and Urology Devices Panel of the Medical Devices Advisory Committee, set to review the premarket approval application for its Organ Care System (OCS) Liver System, a portable organ perfusion and monitoring medical device.

Intended to preserve a donated liver in a near-physiologic, normothermic and functioning state, the OCS Liver System also optimizes liver function for eventual transplantation, according to a news release.

The FDA will meet at 9 a.m. ET today to review the PMA application. This story may be updated.

NeuroOne gains NASDAQ listing

NeuroOne Medical Technologies (OTC:NMTC) announced that it was approved to uplist and begin trading on the Nasdaq market.

Eden Prairie, Minn.-based NeuroOne expects trading to commence today at the open of the market, with the company trading under the “NMTC” ticker, according to a news release.

The developer of surgical care options for patients suffering from neurological disorders will continue to trade on the OTC markets until trading commences on the Nasdaq.

“The team at NeuroOne has worked relentlessly for the past four years to position the company to accomplish this major milestone,” NeuroOne CEO Dave Rosa said in the release. “Nasdaq has an established reputation for being an exchange associated with emerging growth stocks and we believe our uplisting will elevate the company’s corporate profile with current and prospective investors, and the financial community as a whole.

“As the company continu…

Acutus Medical launches IPO on Nasdaq

Cardiac mapping technology developer Acutus Medical announced that it priced its initial public offering on the Nasdaq market.

The Carlsbad, Calif.-based company is offering 8,823,529 shares of its common stock at $18 per share, with gross proceeds expected to come in at approximately $158.8 million.

Acutus Medical’s shares are expected to begin trading today (Aug.6, 2020) under the ticker “AFIB,” while the company anticipates that the offering while close on Aug. 10, according to a news release.

In addition to the offering, Acutus granted the underwriters a 30-day option to purchase up to more than 1.3 million additional shares of common stock at the initial offering price.

J.P. Morgan and BofA Securities are acting as joint book-running managers for the offering. William Blair is also acting as book-running manager. Canaccord Genuity and BTIG are acting as co-managers.

Acutus’ AcQMap and its 3D mapping catheter won…