NEW HAVEN, Conn.--(BUSINESS WIRE)--
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) today announced that it
received a notification letter on November 15, 2016 from The NASDAQ
Stock Market ("NASDAQ"). The notification letter stated that because the
Company has not yet filed its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2016 (the "Form 10-Q"), the Company is no
longer in compliance with NASDAQ Marketplace Rule 5250(c)(1), which
requires timely filing of periodic reports with the Securities and
Exchange Commission (the "SEC"). The NASDAQ notification letter has no
immediate effect on the listing of the Company's common stock on the
NASDAQ Global Select Market.
Under the NASDAQ Listing Rules, the Company has until January 17, 2017
to either file the Form 10-Q or submit a plan to NASDAQ in order to
regain compliance with NASDAQ's Listing Rules. If the Company is unable
to file its Form 10-Q by January 17, 2017, then the Company intends to
submit a compliance plan on or prior to that date. If NASDAQ accepts the
Company's plan, NASDAQ can grant an exception of up to 180 calendar days
from the filing's due date, or until May 8, 2017, to regain compliance.
The Company may regain compliance at any time during this 180-day period
upon filing with the SEC its Form 10-Q, as well as all subsequent
required periodic financial reports that are due within that period. If
NASDAQ does not accept the Company's plan, the Company will have the
opportunity to appeal that decision to a NASDAQ Hearings Panel.
The Company intends to take all necessary steps to achieve compliance
with NASDAQ's continued listing requirements.
[ALXN-G]
About Alexion
Alexion is a global biopharmaceutical company focused on developing and
delivering life-transforming therapies for patients with devastating and
rare disorders. Alexion developed and commercializes Soliris®
(eculizumab), the first and only approved complement inhibitor to treat
patients with paroxysmal nocturnal hemoglobinuria (PNH) and atypical
hemolytic uremic syndrome (aHUS), two life-threatening ultra-rare
disorders. As the global leader in complement inhibition, Alexion is
strengthening and broadening its portfolio of complement inhibitors,
including evaluating potential indications for eculizumab in additional
severe and ultra-rare disorders. Alexion's metabolic franchise includes
two highly innovative enzyme replacement therapies for patients with
life-threatening and ultra-rare disorders, Strensiq®
(asfotase alfa) to treat patients with hypophosphatasia (HPP) and Kanuma®
(sebelipase alfa) to treat patients with lysosomal acid lipase
deficiency (LAL-D). In addition, Alexion is advancing the most robust
rare disease pipeline in the biotech industry with highly innovative
product candidates in multiple therapeutic areas. This press release and
further information about Alexion can be found at: www.alexion.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements often include words such as "anticipate,"
"believe," "expect," "will," or similar expressions. A number of
important factors could cause actual results of the Company to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, (i) risks relating to the
internal investigation being conducted by the Audit and Finance
Committee; (ii) legal proceedings and government investigations relating
to the subject of the Audit and Finance Committee's investigation or
related matters; (iii) the risk that these or other risk factors impact
the expected timing of the filing of the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2016; and (iv) the risk
factors detailed in Part I, Item 1A, "Risk Factors," of the Company's
Annual Report on Form 10-K and the Company's Quarterly Reports on Form
10-Q, and other risk factors identified herein or from time to time in
the Company's periodic filings with the SEC. The Company therefore
cautions you against relying on these forward-looking statements. All
forward-looking statements attributable to the Company or persons acting
on the Company's behalf are expressly qualified in their entirety by the
foregoing cautionary statements. All such statements speak only as of
the date made, and, except as required by law, the Company undertakes no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161116006631/en/
Alexion Contacts:
Media
Stephanie
Fagan, 475-230-3777
Senior Vice President, Corporate Communications
or
Kim
Diamond, 475-230-3775
Executive Director, Corporate Communications
or
Investors
Elena
Ridloff, CFA, 475-230-3601
Vice President, Investor Relations
Source: Alexion Pharmaceuticals, Inc.
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