OCERA THERAPEUTICS,INC. (NASDAQ:OCRX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On August 3, 2017, Ocera Therapeutics, Inc. (the “Company”) received a letter from The Nasdaq Stock Market (“Nasdaq”) informing the Company that the $9.3 million in stockholders’ equity reported in its most recent Form 10-Q for the quarter ended June 30, 2017 fell below the minimum of $10.0 million for continued listing on The Nasdaq Global Market under Listing Rule5450(b)(1)(A). The letter stated that the Company may submit a plan to regain compliance to Nasdaq within 45 days of receipt of the letter.The Company intends to do so. If the plan is accepted, Nasdaq can grant an extension of up to 180 days for the Company to regain compliance. The letter has no immediate effect on the listing of the Company's common stock on The Nasdaq Global Market.
About OCERA THERAPEUTICS,INC. (NASDAQ:OCRX)
Ocera Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on acute and chronic orphan liver diseases. The Company is focused on the development and commercialization of its clinical candidate, OCR-002, for the treatment of hepatic encephalopathy (HE). OCR-002 is a molecule, ornithine phenylacetate, which functions as an ammonia scavenger. It is conducting a randomized, placebo-controlled double blind Phase IIb clinical trial to evaluate the efficacy of intravenous administration of OCR-002 IV formulation in reducing the severity of HE symptoms among HE patients. The Company also conducted a Phase IIa investigator-sponsored trial of OCR-002 in Spain in patients with upper gastrointestinal bleeding associated with liver cirrhosis. It is developing an oral form of OCR-002 to provide continuity of care for HE patients, where the intravenous form is used for hospital-based acute care and the oral form for chronic maintenance care post discharge.
