Healthcare IT and advanced visualization developer Merge Healthcare said that the Nasdaq Listing and Hearing Review Council has decided to stay a lower panel's decision to suspend trading of its securities if the company had not filed certain securities filings by January 29.
The decision to stay the suspension is subject to further review, and the Milwaukee-based firm said it was invited to provide evidence of compliance with listing standards to the Nasdaq council on or before February 29.
Merge said it expects to file its quarterly report on Form 10-Q for the three months ending September 30 in early February. The delay in the filing was due to the additional effort required to complete the valuation of Merge's intangible assets by the independent valuation consultant, according to the firm.
Merge said the valuation will very likely result in the write-down of all, or substantially all, of the goodwill and certain of the other intangible assets of the company.
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