Nuwellis, Inc. Announces Compliance With Nasdaq Listing Requirements

Rhea-AI Summary

Nuwellis, Inc. (Nasdaq: NUWE) announced compliance with Nasdaq's minimum bid price requirement as of December 27, 2022. The company achieved a closing bid price of at least $1.00 per share for 10 consecutive business days, leading to the closure of the compliance matter. Nuwellis focuses on innovative solutions for fluid overload conditions, notably through the Aquadex SmartFlow® system offering ultrafiltration therapy. This system assists in fluid management for patients unresponsive to conventional medical treatments.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Achieved a closing bid price of at least $1.00 for 10 consecutive days.

Negative

• None.

MINNEAPOLIS, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company focused on transforming the lives of people with fluid overload, today announced that on December 27, 2022, the Company received formal notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC indicating that Nuwellis has evidenced full compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). The notice indicated that as a result of the closing bid price of the Company’s common stock having been at least $1.00 per share for a minimum of 10 consecutive business days, the Company has regained compliance under Nasdaq Listing Rule 5550(a)(2) and advised that the matter is now closed.

About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical technology company dedicated to transforming the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headquartered in Minneapolis, Minnesota, with a wholly owned subsidiary in Ireland.

About the Aquadex SmartFlow System
The Aquadex SmartFlow system delivers clinically superior therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.

Forward-Looking Statements 
Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2022 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risks associated with our ability to execute on our commercialization strategy, the impact of the COVID-19 pandemic, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

CONTACTS

INVESTORS: 
Vivian Cervantes
Gilmartin Group LLC 
ir@nuwellis.com

FAQ

What recent compliance update did Nuwellis (NUWE) achieve?

Nuwellis received notice of compliance with Nasdaq's minimum bid price requirement on December 27, 2022.

How long did Nuwellis maintain the required bid price?

Nuwellis maintained a closing bid price of at least $1.00 for 10 consecutive business days.

What is the focus of Nuwellis as a medical technology company?

Nuwellis focuses on transforming the lives of patients with fluid overload through innovative therapies.