ALISO VIEJO, Calif.--(BUSINESS WIRE)--AVANIR Pharmaceuticals, Inc. (NASDAQ:AVNR) today announced that it has regained compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Global Market pursuant to Marketplace Rule 5450(a)(1) (the “Rule”). The NASDAQ Stock Market had previously notified the Company on August 13, 2008 that its common stock had failed to maintain a minimum bid price of at least $1.00 per share over the previous 30 consecutive business days, as required by the Rule. Since May 18, 2009, the closing bid price of the Company's common stock has been at $1.00 per share or greater for at least 10 consecutive business days. Accordingly, the NASDAQ Stock Market has determined that the Company has regained compliance with the Rule and has deemed this matter closed. The Company’s stock continues to be listed on the NASDAQ Global Market and its ticker symbol of AVNR remains unchanged.
