SAN DIEGO, May 02, 2017 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced that on May 2, 2017, Apricus was notified by The NASDAQ Stock Market LLC (“Nasdaq”) that Apricus has evidenced full compliance with all criteria for continued listing on The Nasdaq Capital Market, including the minimum stockholders’ equity requirement.
Nasdaq’s determination follows Apricus’ previously announced closing of a $7.0 million equity offering and its receipt of $12.2 million in aggregate payments from Ferring International Center S.A. in connection with the previously announced ex-U.S. Vitaros-related asset sale. As a result of the foregoing, the Nasdaq listing matter is now closed.
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus has two product candidates currently in development. Vitaros is a product candidate in the United States for the treatment of erectile dysfunction, which is in-licensed from Warner Chilcott Company, Inc., now a subsidiary of Allergan plc (Allergan). RayVa is our product candidate in Phase 2 development for the treatment of the circulatory disorder Raynaud’s phenomenon, secondary to scleroderma, for which Apricus owns worldwide rights.
For further information on Apricus, visit http://www.apricusbio.com.
Vitaros™ is Apricus’ trademark in the United States, which is pending registration and subject to the agreement with Allergan. Vitaros® is a registered trademark of Ferring International Center S.A. in certain countries outside of the United States. RayVa™ is Apricus’ trademark, which is registered in certain countries throughout the world and pending registration in the United States.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, as amended. Statements in this report that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things: whether Apricus can continue to demonstrate compliance with the Nasdaq’s continue listing rules, including with respect to stockholders’ equity requirement. Actual results could differ from those projected in any forward-looking statements due to a variety of reasons that are outside of Apricus’ control, including, but not limited to: Apricus’ ability to carry out its plan to remain compliant with the continued listing requirements; and other risks identified by Apricus in its reports filed with the Securities and Exchange Commission (“SEC”). These forward-looking statements are made as of the date of this press release, and Apricus assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in Apricus’ most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the SEC. Copies of these reports are available from the SEC’s website at www.sec.gov or without charge from Apricus.
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