MENLO PARK, Calif.,
Dec. 20, 2018 /PRNewswire/
-- BioPharmX Corporation (NYSE American: BPMX), a specialty
pharmaceutical company focused on developing innovative medical
dermatology products, received a notice on December 17, 2018 from the NYSE American LLC (the
"NYSE American") that the Company is not in compliance with the
stockholders' equity requirements set forth in Section 1003(a)(i)
and Section 1003(a)(ii) of the NYSE American Company Guide. The
Company reported stockholders' equity of $0.6 million as
of October 31, 2018 and net losses in its five most
recent fiscal years ended January 31, 2018. The
continued listing standards require listed companies to maintain
stockholders' equity of $2.0 million or more if they have
reported losses from continuing operations and/or net losses in
their three most recent fiscal years. NYSE Regulation has
reviewed the Company's compliance plan and has granted a plan
period through September 24, 2019.
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The Company's common stock will continue to be listed and traded
on NYSE American during the cure period, subject to the Company's
compliance with NYSE American's other applicable continued listing
standards. The letter does not affect the company's business
operations or its Securities and Exchange Commission reporting
requirements.
About BioPharmX® Corporation
BioPharmX Corporation
(NYSE American: BPMX) is a specialty pharmaceutical company
developing prescription products through proprietary platform
technologies for dermatology indications. To learn more about
BioPharmX, visit www.BioPharmX.com.
Forward-Looking Statement
The information in this
press release contains forward-looking statements and information
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are subject to the "safe harbor" created by those
sections. This press release contains forward-looking statements
about the company's expectations, plans, intentions, and
strategies, including, but not limited to, our ability to regain
compliance with the continued listing standards of the NYSE
American. Additional risks are set forth in our filings with the
Securities and Exchange Commission, including those described in
the company's Quarterly Report on Form 10-Q for the most recent
fiscal quarter. The forward-looking statements included in this
news release are made only as of the date hereof, and the company
undertakes no obligation to publicly update such statements.
BioPharmX is a registered trademark of BioPharmX, Inc.
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SOURCE BioPharmX Corporation