SAN FRANCISCO, Feb. 18, 2015 (GLOBE NEWSWIRE) -- CollabRx, Inc. (Nasdaq:CLRX) (herein "CLRX" or "the Company"), today announced that it had received notice from the NASDAQ OMX GROUP ("Nasdaq") that the Company had regained compliance with the $1.00 minimum bid price as required by Listing Rule 5550(a)(2). Since being notified on November 18, 2014 that the Company had until May 18, 2015 to regain compliance, the bid price of CollabRx's common stock has closed at $1.00 per share or more for the minimum of 10 consecutive trading days. Accordingly, the Company was notified on February 17, 2015 that it had regained compliance and that the matter of the bid price deficiency was closed.
The Company remained non-compliant with NASDAQ Listing Rule 5550(b)(1), which requires that it maintain a minimum of $2.5 million in stockholder's equity. The Company will present its plan for regaining compliance in a hearing before the NASDAQ Listing Qualifications Panel (the "Panel") that will take place in Washington, D.C. on February 19, 2015. The Company's common stock will continue to trade on The NASDAQ Capital Market under the symbol "CLRX" pending completion of the hearing process and the expiration of any extension period granted by the Panel.
About CollabRx
CollabRx, Inc. (CLRX) is a recognized leader in cloud-based expert systems to inform healthcare decision-making. CollabRx uses information technology to aggregate and contextualize the world's knowledge on genomics-based medicine with specific insights from the nation's top cancer experts, starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. More information may be obtained at http://www.collabrx.com.
CollabRx Safe Harbor Statement
This press release includes forward-looking statements about CollabRx's anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and CollabRx's plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by CollabRx with the Securities and Exchange Commission. CollabRx undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.