REDWOOD CITY, Calif.--(BUSINESS WIRE)--A.P. Pharma, Inc. (Nasdaq: APPA), a specialty pharmaceutical company, today announced that, on April 2, 2009, the Company received notification from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) that it is not in compliance with the minimum $10 million stockholders’ equity requirement for continued listing on the Nasdaq Global Market under Nasdaq Marketplace Rule 4450(a)(3). The Company has until April 17, 2009 to provide a plan to regain compliance with Nasdaq Global Market continued listing requirements. If Nasdaq accepts the Company’s plan, Nasdaq may grant A.P. Pharma a period of up to 105 days from April 2, 2009 within which to regain compliance with such listing requirements. If Nasdaq determines that A.P. Pharma’s plan is not sufficient to achieve and sustain compliance, it will provide written notice that the Company’s securities will be delisted. At such time, A.P. Pharma may then apply to move to The Nasdaq Capital Market or appeal Nasdaq’s delisting determination to a Nasdaq Listing Qualifications Panel. The Company intends to submit a plan with Nasdaq before April 17, 2009, to maintain its listing on The Nasdaq Global Market.
