SAN DIEGO--(BUSINESS WIRE)--Cytori Therapeutics, Inc. (NASDAQ: CYTX) today announced that it has received formal confirmation from The Nasdaq Stock Market LLC (“Nasdaq”) that Cytori’s request for an oral hearing with the Nasdaq Hearing Panel (“Panel”) has been granted. The hearing will occur on January 21, 2016 at Nasdaq’s Washington, D.C. offices. During the period prior to the hearing, Cytori’s common stock will continue to trade on The Nasdaq Global Market (“NGM”). Cytori intends to present a plan to the Hearing Panel that will allow it to remain on the NGM. As an alternative, Cytori believes that it is fully eligible to transfer to The Nasdaq Capital Market (“NCM”), in which case it would be entitled to rely on a second 180-day period (retroactively measured from December 1, 2015). During this second 180-day period, if required Cytori will be in a position to effect a reverse stock split to bring the bid price of its common stock above the minimum $1 threshold.
