NEOTHETICS, INC. (NASDAQ:NEOT) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
On October31, 2017, Neothetics, Inc. (the “Company”) received written notification from the staff of The NASDAQ Stock Market indicating that the Company had regained compliance with the $1.00 per share minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2).The notification stated that the matter of the deficiency, which arose as of August8, 2017, is now closed.
About NEOTHETICS, INC. (NASDAQ:NEOT)
Neothetics, Inc. is a clinical-stage specialty pharmaceutical company, which develops therapeutics. The Company focuses on localized fat reduction and body contouring. It focuses on the development of LIPO-202 for the reduction of central abdominal bulging due to subcutaneous fat in non-obese patients. It has completed Phase II development of LIPO-202. LIPO-202 is administered in a subcutaneous injection procedure that activates a natural metabolic process to shrink fat cells, without killing them, resulting in localized fat reduction, measurable results within four weeks and minimal risk with no downtime. The Company is developing a product candidate, LIPO-102, an injectable form of a combination of salmeterol xinafoate and fluticasone propionate. LIPO-102 is indicated for the treatment of the orphan indication of symptomatic exophthalmos, or protrusion of the eye from the orbit, associated with thyroid-related eye disease caused by the expansion of fat and muscle behind the eye.