Prana Maintains NASDAQ Listing
Prana Biotechnology Ltd (ASX PBT: NASDAQ PRAN) today announced that it has received a notice dated April 8th 2016 from the Listing Qualifications Department of NASDAQ Stock Market Inc. indicating that for the 10 consecutive business days from 24th March 2016 to 7th April 2016, the closing bid price of the Company’s American Depository Shares has been $US 1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and the Company’s shares will remain listed on the NASDAQ Capital Market.
The Company also announced that it continues to focus on its submission to the U.S. Food and Drug Administration to lift the partial clinical hold, which limits the development of PBT2 in the United States. The submission is well advanced, and the Company is committed to ensuring it is comprehensive and puts Prana in the strongest position to continue to develop PBT2 in the U.S. market.