MINNEAPOLIS, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Urologix®, Inc. (Nasdaq:ULGX), the leading provider of in-office BPH therapy, announced today that it received a letter from The NASDAQ Stock Market LLC ("NASDAQ") stating that the Company has not regained compliance with the minimum bid price requirement of Rule 5550(a)(2) within the 180 calendar day compliance period that ended on January 22, 2013 and that the Company's common stock is scheduled to be delisted from The Nasdaq Capital Market as of the open of business on February 1, 2013, unless the Company requests a hearing before a NASDAQ Listing Qualifications Panel (the "Panel").
Accordingly, the Company intends to timely request a hearing before the Panel at which it will petition for continued listing pending its return to compliance with all applicable listing requirements. The hearing request will stay any suspension or delisting action until the conclusion of the hearing process. However, there can be no assurance that the Panel will grant the Company's request for continued listing or that the Company's common stock will remain listed on The Nasdaq Capital Market following the hearing.
About UrologixUrologix, Inc., based in Minneapolis, develops, manufactures, markets and distributes minimally invasive medical products for the treatment of obstruction and symptoms due to Benign Prostatic Hyperplasia (BPH). Urologix' Cooled ThermoTherapy™ produces targeted microwave energy combined with a unique cooling mechanism to protect healthy tissue and enhance patient comfort. The Prostiva® RF Therapy System distributed by Urologix delivers radio frequency energy directly into the prostate destroying prostate tissue, reducing constriction of the urethra, and thereby relieving BPH symptoms. Both of these therapies provide safe, effective and lasting relief of the symptoms and obstruction due to BPH. Prostiva® is a registered trademark of Medtronic, Inc., used under license. All other trademarks are the property of Urologix.