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Thoratec Receives Staff Determination Letter From Nasdaq - Quick Facts



(RTTNews) - Thoratec Corp. (THOR), a provider of products to treat cardiovascular disease, Tuesday announced that it has received a Staff Determination Letter from Nasdaq.

Nasdaq Staff Determination Letter indicating that the company failed to comply with the filing requirement for continued listing set forth in Nasdaq Marketplace Rule 4310(c)(14), and therefore, subject to delisting from the Nasdaq Global Select Market. The company's stock will continue to be listed on Nasdaq until the Panel issues its decision and during any extension period granted by the Panel.

To date, the company's review is ongoing and no determination has been made as to whether any granting documentation errors or any other results of the review will have any impact on the company's financial statements.

On March 1, 2007, the company announced that it had filed with the Securities and Exchange Commission a Form 12b-25 for a 15 day extension to file its annual report on Form 10-K for the year ended December 30, 2006 because it had undertaken, and was in the process of completing, a detailed review of its equity-based compensation practices, including a review of the underlying documentation and procedures, and related accounting, for such practices.

The company has not filed its 2006 Form 10-K. at the end of this extension period. However, the company plans to file its 2006 Form 10-K as soon as possible.