Inc. (NASDAQ:INCR) 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 Continued Listing Rule or Standard; Transfer of Listing.
On October 17, 2017, Dextera Surgical Inc. received from the staff (the “Staff”) of The NASDAQ Stock Market LLC (“Nasdaq”) a letter notifying Dextera that its stockholders’ equity reported in its Annual Report on Form 10-K for the period ended June 30, 2017, was less than $2.5 million, the minimum required by the continued listing requirements of Nasdaq listing Rule 5550(b). At that time, Dextera’s stockholders’ equity was reported at $(8.4) million.
As provided in the Nasdaq rules, unless Dextera requests an appeal of the Staff’s determination, trading in Dextera’s common stock will be suspended at the opening of business on October 26, 2017, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove Dextera’s common stock from listing and registration on Nasdaq. Due to the amount of Dextera’s stockholders’ deficit, the prospects for regaining compliance and the cost of the appeals process, Dextera does not intend to submit an appeal of the Staff’s determination, and so expects that trading in its common stock on Nasdaq will be suspended on October 26, 2017. Dextera has applied to the OTC Markets Group for a listing of its common stock on the OTCQB Venture Market.
About Inc. (NASDAQ:INCR)
INC Research Holdings, Inc. is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services. The Company’s Clinical Development Services segment offers all clinical development services, including full-service global studies, as well as ancillary services, such as clinical monitoring, investigator recruitment, patient recruitment, data management, study reports to assist customers with their drug development process, quality assurance audits and specialized consulting services. The Company’s Phase I Services segment focuses on clinical development services for Phase I trials, which include scientific exploratory medicine, first-in-human studies through proof-of-concept stages and support for Phase I studies in established compounds.
