HAYWARD, Calif.--(BUSINESS WIRE)--Aradigm Corporation (Nasdaq:ARDM) (“Aradigm" or the “Company”) today announced that it received notice from The NASDAQ Capital Market (“NASDAQ”) indicating that the Company has regained compliance under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market as the Company’s market value of listed securities has been $35 million or greater for the last 10 consecutive business days from September 22 through October 5, 2017. Accordingly, Aradigm is in compliance with the applicable listing standards, its common stock will continue to be listed on The NASDAQ Capital Market and NASDAQ considers the matter closed.
Aradigm had previously been notified by NASDAQ on April 4, 2017 that it did not comply with the minimum $2.5 million stockholders’ equity, or $35 million market value of listed securities, or $500,000 of net income from continuing operations requirements for The NASDAQ Capital Market set forth in Listing Rules 5550(b)(1), or 5550(b)(2), or 5550(b)(3), respectively.
Aradigm is an emerging specialty pharmaceutical company focused on the development and commercialization of drugs for the prevention and treatment of severe respiratory diseases. Aradigm has completed two Phase 3 clinical trials with Linhaliq™, an investigational proprietary formulation of ciprofloxacin for inhalation, for the treatment of NCFBE and submitted a New Drug Application to the FDA for this indication. The PDUFA (Prescription Drug User Fee Act) goal date for completion of the FDA review of the Linhaliq NDA is January 26, 2018. Aradigm's inhaled ciprofloxacin formulations, including Linhaliq, are also product candidates for treatment of patients with cystic fibrosis and non-tuberculous mycobacteria, and for the prevention and treatment of high threat and bioterrorism infections, such as inhaled tularemia, pneumonic plague, melioidosis, Q fever and inhaled anthrax.
More information about Aradigm can be found at www.aradigm.com.
Aradigm and the Aradigm Logo are registered trademarks of Aradigm Corporation.