BOSTON--(BUSINESS WIRE)--pSivida Corp. (NASDAQ:PSDVV)(ASX:PVA) today announced that it received notification from the NASDAQ Stock Market that it had regained compliance with Marketplace Rule 4450(a)(5) (the Rule) relating to the maintenance of a minimum $1.00 bid price of the company’s American Depository Shares (ADSs). The company had been notified in December 2007 that it was in violation of NASDAQ’s minimum bid price requirements.. Since then, the company’s ADSs maintained a closing bid price at $1.00 or greater for at least 10 consecutive business days. Accordingly, NASDAQ notified the company that it had regained compliance with the Rule and that the matter is now closed. The company is in the process of reincorporating as a US company, and the pSivida securities traded on NASDAQ changed on June 11, 2008 from ADSs to common stock. pSivida Corp.’s common stock will trade under the symbol PSDVV for as long as the common stock is trading on a when-issued basis. After the common stock of pSivida commences regular trading on NASDAQ, it is expected to trade under the symbol PSDV, the same symbol previously used for its ADSs.
