VIVUS,INC. (NASDAQ:VVUS) 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 a Continued Listing Ruleor Standard; Transfer of Listing.
On October4, 2017, VIVUS,Inc., or the Company, received a letter from The Nasdaq Stock Market, or Nasdaq, indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days, the Company no longer meets the continued listing requirement of maintaining a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule5450(a)(1).As provided in the Nasdaq rules, the Company has 180 calendar days, or until April2, 2018, to regain compliance with the continued listing requirement. In order to regain compliance, the closing bid price of the Company’s common stock on The Nasdaq Global Select Market must be at least $1 per share for a minimum of ten consecutive business days during this 180-day period.
If the Company fails to regain compliance with the continued listing requirement noted above during the applicable compliance period, the Company’s common stock will be subject to delisting by Nasdaq. The deficiency notice has no immediate effect on the listing of the Company’s common stock on The Nasdaq Global Select Market under the symbol “VVUS.”