etrials Receives Nasdaq Notice Letter
May 22 2009 - 8:30AM
Business Wire
etrials Worldwide, Inc. (Nasdaq: ETWC), a leading provider of
adaptive eClinical software and services designed to optimize
clinical trial management by turning data into intelligence and
shortening the pathway to an actionable study endpoint, today
announced that on May�18, 2009 it received a notice from the Nasdaq
Stock Market indicating that it no longer complies with the
requirements of Nasdaq Marketplace Rule 5450(b)(1)(A) for continued
listing on the Nasdaq Global Market. The rule requires that etrials
maintain minimum stockholders� equity of $10,000,000. As reported
in etrials� quarterly report on Form 10-Q for the three months
ended March�31, 2009, etrials� stockholders� equity was $9, 626,348
as of March�31, 2009.
etrials has until June 2, 2009 to provide a plan to regain
compliance with the Nasdaq Global Market listing requirement and a
time frame to complete the plan. If Nasdaq determines that etrials�
plan is not sufficient to achieve and sustain compliance in the
long term, it will provide written notice to etrials of its
intention to delist etrials� securities. At such time, etrials may
appeal the decision to a Nasdaq Listing Qualifications Panel.
etrials is currently preparing its plan for compliance with Nasdaq
Global Market listing requirements and expects to submit the plan
to Nasdaq by the June 2, 2009 deadline. etrials may also consider
applying to list its securities on the Nasdaq Capital Market if it
satisfies the requirements for continued listing on that
market.
About etrials(R)
Headquartered near North Carolina�s Research Triangle Park,
etrials Worldwide, Inc. (Nasdaq: ETWC), is a leading provider of
eClinical software and services to pharmaceutical, biotechnology,
and medical device companies, as well as contract research
organizations, offering adaptive, Web-based tools that work
together to coordinate data capture, logistics, patient interaction
and trial management - turning data into intelligence and
shortening the pathway to an actionable study endpoint. etrials is
one of the few top-tier solution providers that offers electronic
data capture (EDC), interactive voice and Web response (IVR/IWR)
and electronic patient diaries (eDiary), as part of a flexible and
integrated software-as-a-service (SaaS) platform or as individual
solutions to capture high quality data from multiple pivot points
to enable real-time access for informed decision-making. As an
experienced leader, etrials has facilitated over 900 trials
involving more than 400,000 patients in 70 countries and has
participated in 42 studies that resulted in 14 approved new drug
applications and/or regulatory approvals. To learn more visit us at
www.etrials.com. etwcf
Forward-Looking Statements
This announcement may contain forward-looking statements. These
statements involve risks and uncertainties, including the continued
listing of etrials securities on the Nasdaq Global Market. Actual
results could differ materially from those discussed. More
information about potential factors which could cause actual
results to differ from the forward-looking statements included in
this announcement is included in our filings with the Securities
and Exchange Commission, including the �Risk Factors� Section of
our Annual Report on Form 10-K filed with the Securities and
Exchange Commission on March 10, 2009. All forward-looking
statements are based on information available to us on the date
hereof, and we assume no obligation to update such statements
except as required by law.
etrials(R) is the registered trademark in the United States of
etrials Worldwide, Inc.
Etrials Worldwide (MM) (NASDAQ:ETWC)
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