Milestone Scientific Inc. (NYSE: MLSS) reported the New York Stock Exchange accepted the company's plan to regain compliance.
Based upon a review of the compliance plan and information submitted by the Company, the Exchange determined that the Company made a reasonable demonstration of its ability to make substantial progress toward regaining compliance with Section(s) 1003(a)(i), (ii), and (iii) of the Company Guide by May 20, 2020.
While Milestone is still not compliance with the Exchange’s continued listing standards, its listing on the Exchange is being continued pursuant to an extension granted by the Exchange.
The Company, based out of Livingston, New Jersey, will be subject to periodic review by the Exchange staff during the period covered by the plan. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by May 20, 2020 could result in the Company’s shares being de-listed from the Exchange. The Company may appeal a staff de-listing determination in accordance with Section 10 and Part 12 of the Company Guide.
Milestone is a medical device company that patents, designs, develops and commercializes innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications.
Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless.
Milestone’s proprietary DPS Dynamic Pressure Sensing technology® is its technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle.
Shares hiked 29 cents, or 71.5%, to 69 cents mid-morning Monday.
