PRESBIA PLC (NASDAQ:LENS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On November 20, 2017, Presbia PLC (the “Company”) received notice from the Nasdaq Stock Market LLC (the “Notice”) that the Company’s stockholders’ equity as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 does not satisfy the Nasdaq Global Market continued listing requirement set forth in Nasdaq Stock Market Rule 5450(b)(1)(A)(the “Rule”).

Under applicable Nasdaq rules, the Company has 45 calendar days from the date of the Notice to submit to Nasdaq a plan to regain compliance with the Rule. The Company currently anticipates timely submitting such a plan to Nasdaq. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to provide evidence of compliance. If the plan is not accepted or the Company is not granted an extension, the Company will then consider actions appropriate to the circumstances, which may include applicable appeals to a Nasdaq Hearings Panel, or transferring the listing of the Company’s common stock to the Nasdaq Capital Market provided, provided that the Company meets the continued listing requirements of the Nasdaq Capital Market at such time.

There can be no assurance that the Company will be able to regain compliance with the Rule, or that the Company will ultimately pursue regained compliance with the Rule in lieu of other available alternatives, such as applying for the transfer of its common stock listing to the Nasdaq Capital Market.

About PRESBIA PLC (NASDAQ:LENS)
Presbia PLC is an ophthalmic device company. The Company develops and markets an optical lens implant for treating presbyopia, the age-related loss of the ability to focus on near objects. The Company’s segment is the restoration of clear vision caused by presbyopia. The Company provides the refractive lens for patient surgeries and accessories for procedures performed exclusively outside the United States. The Company’s lens, referred to as the microlens, is a miniature lens designed to be surgically implanted in a patient’s eye to improve that patient’s ability to see objects at close distances. The microlens is a disc shaped lens that has a refractive zone in the periphery designed to improve near vision problems associated with presbyopia and a central zone that is designed to improve distance vision. The Company’s solution is a standalone solution for plano presbyopes, or those individuals suffering from presbyopia but do not have any other visual disorders.