LANNETT ANNOUNCES RECEIPT OF NOTICE OF NON-COMPLIANCE FROM NYSE | Information

TREVOSE, Pa., March 4, 2022 /PRNewswire/ — Lannett Firm, Inc. (NYSE: LCI) at this time introduced that it has acquired written discover from the New York Inventory Alternate (NYSE) dated March 2, 2022, notifying the corporate that it’s not in compliance with the continued itemizing requirements set forth in Part 802.01B of the NYSE Listed Firm Handbook as a result of its common market capitalization has been lower than $50 million over a consecutive 30 trading-day interval, and on the identical time its final reported stockholders’ fairness was under $50 million.

In accordance with NYSE procedures, the corporate has notified the NYSE that it’s going to submit a marketing strategy inside 45 days from its receipt of the Discover demonstrating the way it intends to regain compliance with the NYSE’s continued itemizing requirements inside 18 months of the date of the Discover. The NYSE will then overview the marketing strategy.

The Discover has no quick influence on the itemizing of the corporate’s shares of frequent inventory, which can proceed to commerce on the NYSE, topic to its continued compliance with the plan and different NYSE continued itemizing requirements.

About Lannett Firm, Inc.:

Lannett Firm, based in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical merchandise for a variety of medical indications. For extra info, go to the corporate’s web site at www.lannett.com.

This information launch accommodates sure statements of a forward-looking nature regarding future occasions or future enterprise efficiency. Any such assertion, together with, however not restricted to, the corporate’s skill to fulfill the requirements needed to keep up itemizing of its shares of frequent inventory on the NYSE, together with its skill to treatment non-compliance with the NYSE’s continued itemizing standards; the NYSE’s acceptance of the corporate’s marketing strategy, whether or not expressed or implied, is topic to market and different situations, and topic to dangers and uncertainties which might trigger precise outcomes to vary materially from these at present anticipated as a result of quite a lot of components which embody, however are usually not restricted to, the danger components mentioned within the Firm’s Type 10-Ok and different paperwork filed with the SEC every now and then, together with the prospectus complement associated to the proposed providing to be filed with the SEC. These forward-looking statements characterize the Firm’s judgment as of the date of this information launch. The Firm disclaims any intent or obligation to replace these forward-looking statements.

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SOURCE Lannett Firm, Inc.