IRVINE, Calif., Feb. 7, 2018 /PRNewswire/ -- BIOLASE, Inc. (NASDAQ:BIOL), the world's leading dental laser company, todayannounced that the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") has granted BIOLASE a 180-day extension to meet the minimum $1.00 per share closing bid price of its common stock for 10 consecutive
As previously disclosed, BIOLASE received notice from Nasdaq on August 9, 2017, that it was not in compliance with the Bid Price Requirements for its common stock. Per Nasdaq rules, BIOLASE was afforded an initial 180 calendar days, or until February 5, 2018, to regain compliance with the Bid Price Requirement. Nasdaq has determined that the Company is eligible for an additional 180 calendar days to regain compliance with the Bid Price Requirement.
If at any time during the second 180-day period the closing bid price of BIOLASE common stock meets the Bid Price Requirement and provided that the Company meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards, Nasdaq will provide BIOLASE with written confirmation that it is compliance with the Bid Price Requirement and this matter will be closed.
About BIOLASE, Inc.BIOLASE, Inc. is a medical device company that develops, manufactures, markets, and sells laser systems in dentistry and medicine and also markets, sells, and distributes dental imaging equipment, including three-dimensional CAD/CAM intra-oral scanners and digital dentistry software. BIOLASE's products advance the practice of dentistry and medicine for patients and healthcare professionals. BIOLASE's proprietary laser products incorporate approximately 220 patented and 90 patent-pending technologies designed to provide biologically clinically superior performance with less pain and faster recovery times. BIOLASE's innovative products provide cutting-edge technology at competitive prices to deliver the best results for dentists and patients. BIOLASE's principal products are revolutionary dental laser systems that perform a broad range of dental procedures, including cosmetic and complex surgical applications, and a full line of dental imaging equipment. BIOLASE has sold over 35,500 laser systems to date in over 90 countries around the world. Laser products under development address BIOLASE's core dental market and other adjacent medical and consumer markets.
For updates and information on Waterlase® iPlus™, Waterlase Express™, and laser dentistry, find BIOLASE online at www.biolase.com, Facebook at www.facebook.com/biolase, Twitter at www.twitter.com/biolaseinc, LinkedIn at www.linkedin.com/company/biolase, Instagram at www.instagram.com/biolaseinc, and YouTube at www.youtube.com/biolasevideos. BIOLASE® and Waterlase® are registered trademarks of BIOLASE, Inc.
Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding expected effects of the April 2017 financing and anticipated growth. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "should," and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE's current expectations and speak only as of the date of this release. Actual results may differ materially from BIOLASE's current expectations depending upon a number of factors affecting BIOLASE's business. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described, from time-to-time, in the "Risk Factors" section of BIOLASE's annual and quarterly reports filed with the Securities and Exchange Commission. Except as required by law, BIOLASE does not undertake any responsibility to revise or update any forward-looking statements.
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SOURCE BIOLASE, Inc.
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