Nasdaq gives WorldHeart 180 days to comply with minimum bid price rule or face delisting

By Lisa Kerner

Charlotte, N.C., June 20 - The Listing Qualifications Department of The Nasdaq Stock Market notified WorldHeart Corp. that for the last 30 consecutive business days, the bid price of its common shares has closed below the minimum $1.00 per share requirement for continued listing.

Under Nasdaq rules, World Heart has 180 calendar days, or until Dec. 18, to regain compliance, according to a company news release.

If, at anytime before Dec. 18, the bid price of the common shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, World Heart may regain compliance.

The Nasdaq staff, at its discretion, may require the company to maintain a bid price of at least $1.00 per share for a period in excess of 10 consecutive business days before determining compliance.

If WorldHeart fails to comply with the Nasdaq bid price rule by Dec. 18, its common shares will be delisted.

The company also has the option to apply to transfer its common stock to The Nasdaq Capital Market if the company satisfies the requirements for initial inclusion on The Nasdaq Capital Market.

WorldHeart, located in Oakland, Calif., provides mechanical circulatory support products and services.

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