MENLO PARK, Calif., Sept. 28, 2018 /PRNewswire/
-- BioPharmX Corporation (NYSE American: BPMX) (the "Company"), a specialty pharmaceutical company developing products for
the dermatology market, received a notice on September 24, 2018 from the NYSE American LLC (the
"NYSE American") that the Company is not in compliance with the stockholders' equity requirements set forth in Sections
1003(a)(i)-(iii) of the NYSE American Company Guide. The Company reported stockholders' equity of $4.3
million as of July 31, 2018 and net losses in its five most recent fiscal years ended
January 31, 2018. The continued listing standards require listed companies to maintain
stockholders' equity of $6.0 million or more if they have reported losses from continuing
operations and/or net losses in their five most recent fiscal years (Section 1003(a)(iii)).
The Company expects to submit a plan to NYSE American by October 24, 2018 advising how the
Company plans to regain compliance with the continued listing standards by September 24, 2019.
If the Company is not in compliance with the continued listing standards as of September 24,
2019, or does not make progress consistent with the plan, NYSE American may initiate delisting procedures.
The Company's common stock will continue to be listed and traded on NYSE American during the cure period, subject to the
Company's compliance with NYSE American's other applicable continued listing standards. The letter does not affect the company's
business operations or its Securities and Exchange Commission reporting requirements.
About BioPharmX Corporation
BioPharmX Corporation (NYSE American: BPMX) is a Silicon Valley-based specialty pharmaceutical company, which seeks to provide
products through proprietary platform technologies for prescription, over-the-counter (OTC), and supplement applications in the
health and wellness markets, including dermatology and women's health. To learn more about BioPharmX, visit www.BioPharmX.com.
Forward-Looking Statements
The information in this press release contains forward-looking statements and information within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to
the "safe harbor" created by those sections. This press release contains forward-looking statements about the company's
expectations, plans, intentions, and strategies, including, but not limited to, our ability to regain compliance with the
continued listing standards of the NYSE American. Additional risks are set forth in our filings with the Securities and Exchange
Commission, including those described in the company's Quarterly Report on Form 10-Q for the most recent fiscal quarter. The
forward-looking statements included in this news release are made only as of the date hereof, and the company undertakes no
obligation to publicly update such statements. BioPharmX is a registered trademark of BioPharmX, Inc.
For further information:
Media Contact
Nina Brauer, nbrauer@biopharmx.com (650) 889-5030
or
investors@biopharmx.com
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SOURCE BioPharmX Corporation