Published: November 15, 2005
Curative Health Services Receives Compliance Letter From Nasdaq
Curative Health Services, Inc., (NASDAQ: CURE),
announced today that on November 9, 2005 it received notification from the
Nasdaq Stock Market indicating that for the last 30 consecutive business
days, the bid price of Curative's common stock has closed below the minimum
$1.00 per share requirement for continued inclusion under Marketplace Rule
4450(b)(4) (the "Bid Price Rule"). The Nasdaq notice indicated that in
accordance with Marketplace Rule 4450(e)(2), Curative will be provided 180
calendar days, or until May 8, 2006, to regain compliance by having its
shares close above $1.00 for a minimum of 10 consecutive trading days. If
Curative has not regained compliance with the Bid Price Rule by May 8,
2006, Nasdaq will issue a letter notifying Curative that its common stock
will be delisted. At that time, Curative may appeal the determination to
delist its common stock to a Listings Qualifications Panel. Alternatively,
Curative may apply to have its common stock transferred to The Nasdaq
Capital (SmallCap) Market if it otherwise satisfies the applicable initial
listing requirements for such market. If such application is approved,
Curative will be afforded the remainder of this market's second 180
calendar day compliance period in order to regain compliance while on The
Nasdaq Capital Market.
On November 10, 2005, Curative received a letter from The Nasdaq Stock
Market indicating that for the 30 consecutive trading days preceding the
date of this letter, Curative's common stock has not maintained the minimum
aggregate market value of publicly held shares ("MVPHS") of $15 million
required for continued inclusion under Marketplace Rule 4450(b)(3). The
letter further notified Curative that, in accordance with Marketplace Rule
4450(e)(1), Curative will be provided 90 calendar days, or until February
8, 2006, to regain compliance with the MVPHS requirement. Compliance will
be achieved if the MVPHS is $15 million or more for 10 consecutive trading
days prior to February 8, 2006. The letter further stated that if Curative
does not regain compliance with the Marketplace Rules by February 8, 2006,
Nasdaq will provide notice that Curative's common stock will be delisted
from the Nasdaq Stock Market. In the event of such notification, Curative
may appeal the determination to delist its common stock to a Listings
Qualifications Panel. Alternatively, Curative may apply to have its common
stock transferred to the Nasdaq Capital Market and, if Curative submits a
transfer application and pays the applicable listing fees by February 8,
2006, the initiation of delisting proceedings would be stayed pending
Nasdaq staff review of the application.
Curative has determined that no specific action is warranted at this time
in response to either of these letters from Nasdaq.
About Curative Health Services
Curative Health Services, Inc. is a leading provider of Specialty Infusion
and Wound Care Management services.
The Specialty Infusion business, through its national footprint of Critical
Care Systems branch pharmacies, provides a cost-effective alternative to
hospitalization, delivering pharmaceutical products and comprehensive
infusion services to pediatric and adult patients in the comfort of their
own home or alternate setting. Each JCAHO accredited branch pharmacy has a
local multidisciplinary team of experienced professionals who clinically
manage all aspects of a patient's infusion and support needs.
The Wound Care Management business is a leading provider of wound care
services specializing in chronic wound care management. The Wound Care
Management business manages, on behalf of hospital clients, a nationwide
network of more than 100 Wound Care Center® programs that offer a
comprehensive range of services for treatment of chronic wounds, including
outpatient, inpatient, post-acute and hyperbaric oxygen therapy.
For more information, visit .
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors, which may cause the actual results, performance or
achievements of the Company, or industry results, to be materially
different from any future results, performance, or achievements expressed
or implied by such forward-looking statements. Factors that might cause
such differences include, but are not limited to, risks associated with our
acquisition of Critical Care Systems including, but not limited to,
integration risks and costs, risks of client retention, and risks
associated with the operations of the acquired business, as well as risks
in our current businesses such as the substantial level of indebtedness
incurred in connection with the acquisition of Critical Care Systems, the
potential for termination or
non-renewal of a material number of contracts, an inability to obtain new
contracts, changes in government regulations relating to the Company's
Specialty Infusion or Wound Care Management businesses, changes in the
regulations governing third party reimbursements for the Company's
services, manufacturing shortages of products sold by Curative's Specialty
Infusion business, the impact of competitive products and pricing, the
ability to maintain pricing arrangements with suppliers that preserve
margins, the seasonality and variability of operating results, the
Company's ability to implement its strategies and achieve its objectives
and the other risks and uncertainties detailed in the Company's filings
with the Securities and Exchange Commission. Readers of this release are
referred to the Company's Annual Report on Form 10-K for the year ending
December 31, 2004, and Quarterly Report on Form 10-Q for quarter ending
September 30, 2005 for further discussion of these and other risk factors
that could affect future results.
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