NEW YORK and CAESAREA, Israel, July
8, 2019 /PRNewswire/ -- Global digital therapeutics
innovator DarioHealth Corp. (Nasdaq: DRIO) today
announced that on July 5, 2019, it
received notification from Nasdaq that the Company has been granted
an additional 180-day compliance period, or until December 23, 2019, to regain compliance with the
minimum $1.00 bid price per share
requirement of Nasdaq's Marketplace Rule 5550(a)(2) (the "Rule").
Nasdaq's determination to grant the additional 180-day compliance
period was based on the Company meeting the continued listing
requirement for the market value of publicly held shares and all
other applicable requirements for initial listing on the Nasdaq
Capital Market with the exception of the bid price requirement, and
the Company having provided written notice of its intention to cure
the deficiency during the second compliance period, including
effecting a reverse stock split if necessary.
If at any time before December 23,
2019, the bid price of the Company's common stock closes at
$1.00 per share or more for a minimum
of 10 consecutive business days, the Company will regain compliance
with the Rule, and the matter will be closed.
If the Company does not meet the minimum bid requirement during
the additional 180-day grace period, Nasdaq will provide written
notification to the company that its common stock will be subject
to delisting. At such time, the Company may appeal the delisting
determination to a Nasdaq Hearings Panel ("Panel"). The Company
would remain listed pending the Panel's decision. There can be no
assurance that, if the Company does appeal a subsequent delisting
determination by the Staff to the Panel, that such appeal would be
successful.
This current notification from Nasdaq has no immediate effect on
the listing or trading of the company's common stock, which will
continue to trade on the Nasdaq Capital Market under the symbol
"DRIO".
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) is a leading global Digital
Therapeutics (DTx) company revolutionizing the way people manage
their health across the chronic condition spectrum. By delivering
evidence-based interventions that are driven by data, high-quality
software and coaching, we developed a novel approach that empowers
individuals to adjust their lifestyle in a personalized way. Our
Cross Functional Team operates at the intersection of life
sciences, behavioral science and software technology to deliver
highly engaging therapeutic interventions. Already one of the
highest rated diabetes solutions, its user-centric approach is
loved by tens of thousands of consumers around the globe.
DarioHealth is rapidly moving into new chronic conditions and
geographic markets.
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and
partners of DarioHealth Corp. (the "Company") related thereto
contain or may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements that are not statements of historical fact may be deemed
to be forward-looking statements. Without limiting the generality
of the foregoing, words such as "plan," "project," "potential,"
"seek," "may," "will," "expect," "believe," "anticipate," "intend,"
"could," "estimate," or "continue" are intended to identify
forward-looking statements. For example, when the Company states
that it may conduct a reverse stock split, if necessary, or that it
may appeal any delisting determination to a Nasdaq Panel in the
event it does not comply with Nasdaq's Marketplace Rule 5550(a)(2),
it is using forward-looking statements. Readers are cautioned that
certain important factors may affect the Company's actual results
and could cause such results to differ materially from any
forward-looking statements that may be made in this news release.
Factors that may affect the Company's results include, but are not
limited to, regulatory approvals, product demand, market
acceptance, impact of competitive products and prices, product
development, commercialization or technological difficulties, the
success or failure of negotiations and trade, legal, social and
economic risks, and the risks associated with the adequacy of
existing cash resources. Additional factors that could cause or
contribute to differences between the Company's actual results and
forward-looking statements include, but are not limited to, those
risks discussed in the Company's filings with the U.S. Securities
and Exchange Commission. Readers are cautioned that actual results
(including, without limitation, the timing for and results of the
Company's commercial and regulatory plans for Dario) may differ
significantly from those set forth in the forward-looking
statements. The Company undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law.
DarioHealth Corporate Contact:
Joao Mendes-Roter
VP Marketing
joao@mydario.com
+1-347-767-4220
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SOURCE DarioHealth Corp.