Zila to Transfer to The NASDAQ Capital Market
09 Abril 2009 - 5:05PM
Business Wire
Zila, Inc. (NASDAQ:ZILA) today announced that its application to
transfer the listing of its common stock from The NASDAQ Global
Market to The NASDAQ Capital Market has been approved. The transfer
will be effective at the opening of business on April 13, 2009 and
the company�s common stock will continue to trade under the symbol
�ZILA.� The transfer to the Capital Market allows the company to
continue its NASDAQ listing status.
The NASDAQ Capital Market is a tier of the NASDAQ Stock Market
for companies with a lower market capitalization requirement than
the Global Market tier. It is a continuous trading market that
operates in the same manner as The NASDAQ Global Market and
currently lists the securities of approximately 550 companies. All
companies listed on The NASDAQ Capital Market must meet certain
financial requirements and adhere to NASDAQ's corporate governance
standards.
As previously disclosed on March 26, 2009, Zila received notice
from the NASDAQ Stock Market that it had determined that the
Company does not currently meet the minimum $10,000,000 in
stockholder equity required for continued listing for NASDAQ Global
Market. While the NASDAQ Stock Market has offered the Company the
opportunity to submit a plan for regaining compliance with this
requirement, the Company determined to proceed with a transfer of
its listing to The NASDAQ Capital Market to maintain an orderly
market in its common stock through the current global economic
crisis. The stockholder equity requirement for The NASDAQ Capital
Market is $2,500,000.
About Zila, Inc.
Zila, Inc., headquartered in Scottsdale, Arizona, is a
diagnostic company dedicated to the prevention, detection and
treatment of oral cancer and periodontal disease. Zila manufactures
and markets ViziLite� Plus with TBlue� (�ViziLite� Plus�), the
company�s flagship product for the early detection of oral
abnormalities that could lead to cancer. ViziLite� Plus is an
adjunctive medical device cleared by the FDA for use in a
population at increased risk for oral cancer. In addition, Zila
designs, manufactures and markets a suite of proprietary products
sold exclusively and directly to dental professionals for
periodontal disease, including the Rotadent� Professional Powered
Brush, the Pro-Select Platinum� ultrasonic scaler and a portfolio
of oral pharmaceutical products for both in-office and home-care
use. All of Zila�s products are marketed and sold in the United
States and Canada primarily through the company�s direct field
sales force and telemarketing organization. The company�s products
are marketed and sold in other international markets through the
direct sales forces of third party distributors. Zila�s marketing
programs reach most U.S. dental offices.
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
forward-looking statements are based largely on Zila�s expectations
or forecasts of future events, can be affected by inaccurate
assumptions and are subject to various business risks and known and
unknown uncertainties, a number of which are beyond the Company�s
control. Therefore, actual results could differ materially from the
forward-looking statements contained herein. A wide variety of
factors could cause or contribute to such differences and could
adversely affect revenue, profitability, cash flows and capital
needs. There can be no assurance that the forward-looking
statements contained in this press release will, in fact, transpire
or prove to be accurate. For a more detailed description of these
and other cautionary factors that may affect Zila�s future results,
please refer to Zila�s Form 10-K for its fiscal year ended July 31,
2008 and Form 10-Q for the quarter ended January 31, 2009.
For more information about the company and its products, please
visit www.zila.com.
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