DarioHealth Granted 180-day Extension by Nasdaq to Regain Compliance With bid Price Rule

About this update from Dariohealth Corp.

[{"type":"text","content":"NEW YORK and CAESAREA, Israel, July 8, 2019 /PRNewswire/ -- Global digital therapeutics innovator DarioHealth Corp. (Nasdaq: DRIO) today announced that on July 5, 2019, it received notification from Nasdaq that the Company has been granted an additional 180-day compliance period, or until December 23, 2019, to regain compliance with the minimum $1.00 bid price per share requirement of Nasdaq's Marketplace Rule 5550(a)(2) (the \"Rule\"). Nasdaq's determination to grant the additional 180-day compliance period was based on the Company meeting the continued listing requirement for the market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the bid price requirement, and the Company having provided written notice of its intention to cure the deficiency during the second compliance period, including effecting a reverse stock split if necessary.\nIf at any time before December 23, 2019, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will regain compliance with the Rule, and the matter will be closed.\nIf the Company does not meet the minimum bid requirement during the additional 180-day grace period, Nasdaq will provide written notification to the company that its common stock will be subject to delisting. At such time, the Company may appeal the delisting determination to a Nasdaq Hearings Panel (\"Panel\"). The Company would remain listed pending the Panel's decision. There can be no assurance that, if the Company does appeal a subsequent delisting determination by the Staff to the Panel, that such appeal would be successful.\nThis current notification from Nasdaq has no immediate effect on the listing or trading of the company's common stock, which will continue to trade on the Nasdaq Capital Market under the symbol \"DRIO\".\nAbout DarioHealth Corp.\nDarioHealth Corp. (Nasdaq: DRIO) is a leading global Digital Therapeutics (DTx) company revolutionizing the way people manage their health across the chronic condition spectrum. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, we developed a novel approach that empowers individuals to adjust their lifestyle in a personalized way. Our Cross Functional Tea...

More updates from Dariohealth Corp.