Sunshine Heart Announces Receipt Of Additional Nasdaq Staff Determination

EDEN PRAIRIE, Minn., Nov. 17, 2016 (GLOBE NEWSWIRE) -- Sunshine Heart, Inc. today announced that on November 11, 2016, the Company received a letter from the Nasdaq Listing Qualifications Staff indicating that the Company no longer satisfied the minimum $2.5 million stockholders' equity requirement for continued listing on The Nasdaq Capital Market based upon the Company's stockholders' equity of $2.46 million as of September 30, 2016. The Company recently attended a hearing before the Nasdaq Hearings Panel, at which hearing the Company presented its plan to evidence compliance with both the $1.00 bid price and $2.5 million stockholders' equity requirements and requested an extension of time within which to do so. The Panel has not yet issued its determination in response to the Company's request. The Company is diligently working to demonstrate compliance with all requirements for continued listing on The Nasdaq Capital Market, and will provide an update regarding the Nasdaq process when relevant information becomes available.

About Sunshine Heart

Sunshine Heart, Inc. (Nasdaq:SSH) is an early-stage medical device company focused on developing a product portfolio to treat moderate to severe heart failure and related conditions.  The Company's commercial product, the Aquadex system, is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy, and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. Our objective is to improve the quality of life for heart failure patients and slow the disease progression. Sunshine Heart is a Delaware corporation headquartered in Minneapolis with wholly owned subsidiaries in Australia and Ireland. The Company has been listed on the NASDAQ Capital Market since February 2012.

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