OSIRIS THERAPEUTICS,INC. (NASDAQ:OSIR) Files An 8-K Other EventsItem 8.01. Other Events.
As previously disclosed, Osiris Therapeutics, Inc. (the “Company”) participated in a hearing before a NASDAQ Hearings Panel (the “Hearings Panel”) on November 10, 2015 in connection with the Company’s late filings and the Company’s anticipated financial restatement relating to prior periods. At the hearing, the Company requested that the Hearings Panel grant the Company additional time to file its delinquent reports with the Securities and Exchange Commission (the “SEC”) and regain compliance with NASDAQ’s continued listing requirements.
On December 1, 2016, the Company received a decision letter from NASDAQ’s Office of General Counsel stating that the Hearings Panel has granted the Company’s request and, accordingly, the Company’s common stock will continue to trade on the NASDAQ Stock Market provided that the Company becomes current in its periodic filings with the SEC on or before March 10, 2017. The letter stated that March 10, 2017 represents the full extent of the Hearing Panel’s discretion to grant continued listing while the Company is non-compliant.
On December 2, 2016, the Company issued a press release regarding the foregoing matters. A copy of the press release is filed herewith as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
99.1 Press Release, dated December 2, 2016
About OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR)
Osiris Therapeutics, Inc. is a cellular and regenerative medicine company. The Company is focused on researching, developing and marketing products in the wound, orthopedic, and sports medicine markets. The Company operates through Biosurgery business segment, which focuses on products for wound care, orthopedics, and sports medicine to harness the ability of cells and novel constructs to promote the body’s natural healing. The Company’s products include Grafix, Stravix, TruSkin, Cartiform and BIO4. The Company produces and distributes Grafix for acute and chronic wounds; Stravix for tendon repair; TruSkin for wound closure; Cartiform, a viable cartilage mesh for cartilage repair, and BIO4 for bone growth. The Company’s BioSmart cryopreservation process retains the native characteristics and inherent functionality of tissue. Its BioSmart process includes preservation of the three dimensional (3D) matrix, endogenous growth factors, and tissue-resident cells. OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR) Recent Trading Information
OSIRIS THERAPEUTICS, INC. (NASDAQ:OSIR) closed its last trading session up +0.06 at 5.68 with 153,759 shares trading hands.