ARALEZ PHARMACEUTICALS INC. (NASDAQ:ARLZ) 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 Ruleor Standard; Transfer of Listing
On June21, 2018, Aralez Pharmaceuticals Inc. (the “Company”) received a letter from the Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the requirement of Nasdaq Marketplace Rule5550(a)(2)for continued inclusion on The Nasdaq Capital Market as a result of the closing bid price for the Company’s common shares being below $1.00 for 30 consecutive business days. This notification has no effect on the listing of the Company’s common shares at this time.
The notification letter stated that the Company would be afforded 180 calendar days (until December18, 2018) to regain compliance with the minimum bid price requirement. In order to regain compliance, the bid price for the Company’s common shares must close at $1.00 per share or more for a minimum of ten consecutive business days. The notification letter also states that in the event the Company does not regain compliance within the 180 day period, the Company may be eligible for additional time to regain compliance.