Amedica Granted Extension by NASDAQ to Regain Compliance with NASDAQ Listing Rule
SALT LAKE CITY, March 15, 2018 (GLOBE NEWSWIRE) -- Amedica Corporation (Nasdaq:AMDA), an innovative biomaterial company which develops and manufactures silicon nitride as a platform for biomedical applications, announced today that it received notification from the Listing Qualifications department of The NASDAQ Stock Market, that the staff has determined to grant the Company an extension until June 29, 2018 to regain compliance with Listing Rule 5620(a) by holding an annual meeting of shareholders on or before that date. If Amedica does not satisfy these terms, NASDAQ will provide written notification to the Company that its common stock will be delisted. At that time, the Company may appeal the determination to a NASDAQ hearings panel. The company fully intends to hold an annual meeting of shareholders by the due date, and otherwise remain in compliance with NASDAQ rules and regulations.
About Amedica Corporation
Amedica is focused on the development and application of medical-grade silicon nitride ceramics. Amedica markets spinal fusion products and is developing a new generation of wear- and corrosion-resistant implant components for hip and knee arthroplasty. The Company manufactures its products in its ISO 13485 certified manufacturing facility. Amedica's spine products are FDA-cleared, CE-marked, and are currently marketed in the U.S. and select markets in Europe and South America through its distributor network and its OEM partnerships.
For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.
This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties. For example, there can be no assurance that we will be able to maintain our listing on any NASDAQ market. Other factors that could cause actual results to differ materially from those contemplated within this press release can also be found in Amedica's Risk Factors disclosure in its Annual Report on Form 10-K/A, filed with the Securities and Exchange Commission (SEC) on December 27, 2017, and in Amedica's other filings with the SEC. Forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.
Contact: Amedica IR 801-839-3502 IR@amedica.com
Released March 15, 2018