THOROFARE, N.J., May 25, 2018 (GLOBE NEWSWIRE) -- Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), a developer of rapid health information technologies, announces that it received a notice from the Listing Qualifications Department of the Nasdaq Stock Market on May 22, 2018 stating that the Company's failure to file its Form 10-Q for the quarter ended March 31, 2018 (the “Quarterly Report”) constituted a delinquency under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission.
The Notice notes that the Company is required to submit a plan to regain compliance with Nasdaq's filing requirements for continued listing within 60 calendar days of the date of the Notice. Upon acceptance of the Company's compliance plan, Nasdaq is permitted to grant an extension of up to 180 calendar days from the Quarterly Report's filing due date, or until November 19, 2018, for the Company to regain compliance with Nasdaq Listing Rule 5250(c)(1).
The Company continues to work in order to expeditiously file the Quarterly Report as soon as practicable.
The Notice has no immediate effect on the listing of the Company's shares on Nasdaq. This announcement is made in compliance with Nasdaq Listing Rule 5810(b) which requires prompt disclosure of receipt of a deficiency notification.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.
