Aradigm Corporation (NASDAQ:ARDM) 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 April 4, 2017, Aradigm Corporation (the “Company”) received a notice from The NASDAQ Capital Market (“NASDAQ”) that the Company is not in compliance with NASDAQ’s Listing Rule 5550(b)(1), as it has not maintained a minimum of $2,500,0000 in its shareholders’ equity. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock on NASDAQ under the symbol “ARDM.”
to the NASDAQ Listing Rules, the Company has 45 days, or until May 19, 2017, to submit a plan to regain compliance with the minimum shareholders’ equity requirement. The Company intends to submit a plan to regain compliance.
About Aradigm Corporation (NASDAQ:ARDM)
Aradigm Corporation is a pharmaceutical company focused on the development and commercialization of products for the treatment and prevention of severe respiratory diseases. The Company’s lead product candidate is Pulmaquin inhaled ciprofloxacin, which is in Phase III clinical trials. It offers AERx pulmonary drug delivery platform and other technologies. Its partnered programs under development include Inhaled Ciprofloxacin. It is also engaged in developing Smoking Cessation Therapy (ARD-1600 Inhaled Nicotine). Its lead development candidates are its formulations of the potent antibiotic ciprofloxacin (Pulmaquin (ARD-3150) and Lipoquin (ARD-3100)) that are delivered by inhalation for the management of infections associated with the severe respiratory diseases, such as cystic fibrosis (CF) and non-cystic fibrosis bronchiectasis (BE). Pulmaquin uses slow release liposomal formulation (Lipoquin) mixed with a small amount of ciprofloxacin dissolved in an aqueous medium. Aradigm Corporation (NASDAQ:ARDM) Recent Trading Information
Aradigm Corporation (NASDAQ:ARDM) closed its last trading session 00.00 at 1.59 with 13,598 shares trading hands.