HISTOGENICS CORPORATION (NASDAQ:HSGX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01.
On June 23, 2017, Histogenics Corporation (the “Company”) received a letter from the Listing Qualifications department of The NASDAQ Stock Market LLC (“NASDAQ”) notifying the Company that its application to transfer its common stock from the NASDAQ Global Market to the NASDAQ Capital Market had been approved. The Company’s common stock will be transferred to the Nasdaq Capital Market at the opening of business on June 30, 2017 and will continue to trade under the symbol “HSGX.” This move to the NASDAQ Capital Market will not affect the trading of the Company’s common stock. The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as the NASDAQ Global Market, but with less stringent listing requirements.
As previously announced, on May 16, 2017, the Company received a notice from NASDAQ indicating that the Company no longer complies with the requirements of NASDAQ Marketplace Rule 5450(b)(1)(A) for continued listing on The NASDAQ Global Market because the Company’s stockholders’ equity has fallen below $10 million as reported on its quarterly report on Form 10-Q for the period ended March 31, 2017. In lieu of seeking to regain compliance for continued listing on the NASDAQ Global Market, the Company applied to transfer the listing of its common stock to the NASDAQ Capital Market. Because the Company transferred its common stock listing from the NASDAQ Global Market to the NASDAQ Capital Market, the Company meets all the applicable requirements for initial listing on the NASDAQ Capital Market.
About HISTOGENICS CORPORATION (NASDAQ:HSGX)
Histogenics Corporation is a regenerative medicine company. The Company is focused on developing and commercializing products in the musculoskeletal segment of the marketplace. The Company’s product candidate, NeoCart utilizes various aspects of regenerative medicine platform to develop a tissue implant intended to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee. NeoCart is a cartilage-like implant created using a patient’s own cartilage cells through a series of tissue engineering processes. The patient’s cells are separated from a tissue biopsy specimen extracted from the patient and multiplied in its laboratory. The cells are then infused into its scaffold that provides structure for the developing implant. Before NeoCart is implanted in a patient, the cell- and scaffold construct undergoes a bioengineering process in the Company’s Tissue Engineering Processor (TEP). The Company has operations in the United States and Israel. HISTOGENICS CORPORATION (NASDAQ:HSGX) Recent Trading Information
HISTOGENICS CORPORATION (NASDAQ:HSGX) closed its last trading session 00.00 at 1.85 with 33,894 shares trading hands.
