Full Press Release Details
Jaffe Deemed Compliant With All Nasdaq Continued Listing Requirements
Regains Compliance with Nasdaq Minimum Bid Requirement
California, December 21, 2020 - Hancock Jaffe Laboratories, Inc. (Nasdaq: HJLI), a developer of medical devices that
restore cardiac and vascular health, today
announced that the Company has received formal
notification from the Nasdaq Hearings Panel (the "Panel") that the Company has evidenced
full compliance with the minimum bid price requirement and all other applicable criteria for continued listing on The Nasdaq Stock
Market, that all compliance matters have been resolved, and that the Panel has closed the HJLI compliance file.
evidence compliance with the minimum bid requirement, the Company needed to evidence a closing bid price of at least $1.00 per
share for a minimum of ten, but generally not more than 20, consecutive business days. The Panel has determined to continue the
listing of the Company's securities on The
Nasdaq Stock Market and the Company has no further deficiencies.
Hancock Jaffe Laboratories, Inc.
specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care
for treating cardiac and vascular diseases. HJLI currently has two lead product candidates: the VenoValve , a porcine based
valve which is intended to be surgically implanted in the deep venous system of the leg to treat reflux associated with Chronic
Venous Insufficiency; and the CoreoGraft , a bovine tissue based off the shelf conduit intended to be used for coronary artery
bypass surgery. For more information, please visit HancockJaffe.com.
Note on Forward-Looking Statements
press release and any statements of stockholders, directors, employees, representatives and partners of Hancock
Jaffe Laboratories, Inc. (the "Company") related thereto contain, or may contain, among other things, certain
"forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve significant risks and uncertainties. Such statements may include, without limitation, statements identified
by words such as "projects," "may," "will," "could," "would," "should,"
"believes," "expects," "anticipates," "estimates," "intends," "plans,"
"potential" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's
management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with
the Securities and Exchange Commission. Actual results may differ significantly from those set forth or implied in the forward-looking
statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various
factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.