Urologix Receives NASDAQ Notification Related to Minimum Bid Price Requirement
MINNEAPOLIS, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Urologix®, Inc. (Nasdaq:ULGX),
the leading provider of in-office BPH therapy, announced today that it
received a letter from The NASDAQ Stock Market LLC ("NASDAQ") stating that the
Company has not regained compliance with the minimum bid price requirement of
Rule 5550(a)(2) within the 180 calendar day compliance period that ended on
January 22, 2013 and that the Company's common stock is scheduled to be
delisted from The Nasdaq Capital Market as of the open of business on February
1, 2013, unless the Company requests a hearing before a NASDAQ Listing
Qualifications Panel (the "Panel").
Accordingly, the Company intends to timely request a hearing before the Panel
at which it will petition for continued listing pending its return to
compliance with all applicable listing requirements. The hearing request will
stay any suspension or delisting action until the conclusion of the hearing
process. However, there can be no assurance that the Panel will grant the
Company's request for continued listing or that the Company's common stock
will remain listed on The Nasdaq Capital Market following the hearing.
Urologix, Inc., based in Minneapolis, develops, manufactures, markets and
distributes minimally invasive medical products for the treatment of
obstruction and symptoms due to Benign Prostatic Hyperplasia (BPH). Urologix'
Cooled ThermoTherapy™ produces targeted microwave energy combined with a
unique cooling mechanism to protect healthy tissue and enhance patient
comfort. The Prostiva® RF Therapy System distributed by Urologix delivers
radio frequency energy directly into the prostate destroying prostate tissue,
reducing constriction of the urethra, and thereby relieving BPH symptoms. Both
of these therapies provide safe, effective and lasting relief of the symptoms
and obstruction due to BPH. Prostiva® is a registered trademark of Medtronic,
Inc., used under license. All other trademarks are the property of Urologix.
Forward Looking Statements
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Any statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking statements.
Without limiting the foregoing, words such as "may," "will," "expect,"
"believe," "anticipate," "estimate" or "continue" or comparable terminology
are intended to identify forward-looking statements. Such forward looking
statements include, for example, statements about the Company's ability to
maintain its listing on The Nasdaq Stock Market, the effectiveness of the
Company's sales and marketing strategies, the Company's future revenue and
operating performance, or about the development and marketing of new products.
The statements made by the Company are based upon management's current
expectations and are subject to certain risks and uncertainties that could
cause the actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include market
conditions and other factors beyond the Company's control and the risk factors
and other cautionary statements described in the Company's Annual Report on
Form 10-K for the year ended June 30, 2012 and other documents filed with the
Securities and Exchange Commission.
If you'd like more information on this topic, please contact Brian Smrdel at
763-475-7696 or firstname.lastname@example.org or to learn more about Urologix and its
products and services, visit their website at www.urologix.com.
The Urologix, Inc. logo is available at
CONTACT: Brian Smrdel
Phone Number: 763-475-7696
Email Address: Bsmrdel@urologix.com
Urologix, Inc. Logo
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