New York Exchange Gives Lannett Six Months To Meet Standards
Lannett ‘Evaluating All Available Options To Regain Compliance’
US-based manufacturer Lannett has received a notice of non-compliance from the NYSE due to price of the company’s share. Lannett insists there is no immediate impact, but the firm is evaluating options, including “transactions that are subject to approval of Lannett’s stockholders.”
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In June, Medicines for Europe will host its annual and legal affairs conferences in Barcelona, while on the commercial side Hikma’s CEO Siggi Olafsson is to resign from the London-listed company.
Lannett has delivered on its promise of kicking off a pivotal clinical trial for its proposed interchangeable biosimilar rival to Lantus by the end of March, as it eyes a 2023 filing and 2024 launch in the US for the insulin glargine product on which it has partnered with HEC.
Not many firms report a negative EBITDA when adjusted for costs, but this was the fate of Lannett during its financial Q2. Management addressed the challenges for Lannett’s base business and the ways in which the firm intends to turn the tide in the coming years.