MINNEAPOLIS, July 18, 2012 (GLOBE NEWSWIRE) -- Urologix®, Inc. (Nasdaq:ULGX), the leading provider of in-office procedures for the safe, durable and effective treatment of BPH, announced today it has received a letter of determination from The Nasdaq Stock Market ("NASDAQ") confirming that the Company has regained compliance with Listing Rule 5550(b)(1) requiring a minimum shareholders' equity of $2.5 million. The determination was received from NASDAQ after the Company reported the completion of the sale of 5,200,000 shares of the Company's common stock pursuant to an underwritten public offering. Urologix remains subject to the NASDAQ continued listing requirements.
"We are very pleased with NASDAQ's decision. We believe that the continued listing of our common stock on The NASDAQ Capital Market is in the best interests of our shareholders as we have completed the underwritten public offering that enabled us to meet NASDAQ's shareholders' equity standard," said Stryker Warren, Jr., Chief Executive Officer.
Urologix, Inc., based in Minneapolis, develops, manufactures, markets and distributes minimally invasive medical products for the treatment of obstruction and symptoms due to Benign Prostatic Hyperplasia (BPH). Urologix' Cooled ThermoTherapy™ produces targeted microwave energy combined with a unique cooling mechanism to protect healthy tissue and enhance patient comfort. The Cooled ThermoTherapy™ product line includes the CoolWave® and Targis® Control Units and the CTC Advance® and Targis® catheter families. The Prostiva® RF Therapy System distributed by Urologix delivers radio frequency energy directly into the prostate destroying prostate tissue, reducing constriction of the urethra, and thereby relieving BPH voiding symptoms. Both of these products provide safe, effective and lasting relief of the symptoms and obstruction due to BPH. Prostiva® is a registered trademark of Medtronic, Inc., used under license. All other trademarks are the property of Urologix.
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Brian J. Smrdel Chief Financial Officer (763) 475-7696