OKYO Pharma Limited Regains Compliance with Nasdaq Listing Minimum Market Value Rule
29 August 2023 - 9:00PM
OKYO Pharma Limited Regains Compliance with Nasdaq Listing Minimum
Market Value Rule
OKYO Pharma Limited (Nasdaq: OKYO) ("OKYO" or the "Company"),
an ophthalmology-focused bio-pharmaceutical company which is
developing OK-101 to treat dry eye disease (DED) to address the
significant unmet need in this multi-billion-dollar market, today
announced that it received notification from the Listing
Qualifications Department (the "Staff") of the Nasdaq Stock Market
("Nasdaq") notifying OKYO that it has regained compliance with the
minimum $35 million market value requirement for continued
inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing
Rule 5550(b)(2) (the "Market Value Rule").
OKYO was previously notified by Nasdaq on July
26, 2023 that it was not in compliance with the minimum market
value requirement rule (under Rule 5550(b)(2)) because the market
value of OKYO’s ordinary shares had closed below the minimum $35
million requirement for 30 consecutive business days. To regain
compliance, the Company was required to maintain a market value of
OKYO’s ordinary shares at $35 million or more for a minimum of 10
consecutive business days, which was met on August 28, 2023.
About OKYOOKYO Pharma Limited (Nasdaq: OKYO) is
a life sciences company focusing on the discovery and development
of novel molecules to treat inflammatory dry eye diseases and
chronic pain. For further information, please visit
www.okyopharma.com.
Forward-Looking StatementsCertain statements
made in this announcement are forward-looking statements. These
forward-looking statements are not historical facts but rather are
based on the Company's current expectations, estimates, and
projections about its industry; its beliefs; and assumptions. Words
such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,'
'seeks,' 'estimates,' and similar expressions are intended to
identify forward-looking statements. These statements are not
guarantees of future performance and are subject to known and
unknown risks, uncertainties, and other factors, some of which are
beyond the Company's control, are difficult to predict, and could
cause actual results to differ materially from those expressed or
forecasted in the forward-looking statements. The Company cautions
security holders and prospective security holders not to place
undue reliance on these forward-looking statements, which reflect
the view of the Company only as of the date of this announcement.
The forward-looking statements made in this announcement relate
only to events as of the date on which the statements are made. The
Company will not undertake any obligation to release publicly any
revisions or updates to these forward-looking statements to reflect
events, circumstances, or unanticipated events occurring after the
date of this announcement except as required by law or by any
appropriate regulatory authority.
For further information, please visit the Company's website
at www.okyopharma.com
Enquiries:
OKYO Pharma Limited |
Gary S. Jacob, Chief Executive Officer |
U.S. 917-497-7560 |
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Investor
Relations |
Paul Spencer |
+44 (0)20 7495 2379 |
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