Dental laser maker Biolase Technology has regained compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market, the company announced.
"I am very pleased that the regulatory body of Nasdaq has cleared Biolase for continuing its listing on the exchange," said Federico Pignatelli, chairman and CEO, in a press release. "We are completing the last phase of the radical restructuring of the company's business based on the new direct and multidistributor sales model, rather than the exclusive distribution agreement with Henry Schein."
The new sales model now allows Biolase to independently leverage the entire North American marketplace, as well as most major international territories for high-tech laser dental equipment, Pignatelli said. With the support of the Nasdaq listing, the company is concentrated on renewed revenue growth and a "rapid return to profitability," he said.
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