Columbia Laboratories, Inc. announced that the previously disclosed putative class action lawsuit filed against the company, Actavis, Inc. and certain officers of both companies in the United States District Court, District of New Jersey, entitled In re Columbia Laboratories, Inc., Securities Litigation, has been dismissed without prejudice. The plaintiffs have been granted 30 days within which to file an amended complaint.

Columbia Laboratories Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company total net revenues increased 65% to $6.3 million compared to $3.8 million in the first quarter of 2012, driven primarily by a $2.6 million increase in net product revenues from Merck Serono S.A. and, to a lesser extent, higher royalty revenues from Actavis Inc. Operating income was $1.0 million, versus an operating loss of $1.3 million in the first quarter of 2012. The change in operating income primarily reflects the $1.6 million increase in gross profit and a $0.6 million decrease in total operating expenses in the first quarter of 2013. Net income was $1.2 million, or $0.01 per basic and diluted share, compared to net income of $5.0 million, or $0.06 per basic and loss of $0.01 per diluted share, for the first quarter of 2012. Income before provision for income taxes was $1.245 million against $4.957 million a year ago. Net cash flow from operations was $700,000.

Columbia Laboratories Inc. announced that the Annual Meeting of Shareholders of the company was held on May 1, 2013, approved the proposed authorization to the Board to amend the company's certificate of incorporation to effectuate a reverse stock split of its common stock at a ratio of up to and including one-for-ten, such ratio to be determined by the Board.

Columbia Laboratories Inc., Q1 2013 Earnings Call, May 09, 2013

On April 23, 2013, Columbia Laboratories, Inc. received notification (the “Nasdaq Letter”) from Nasdaq Stock Market (“Nasdaq”) indicating that the Company’s application to list its common stock on the Nasdaq Capital Market has been approved. The Nasdaq Capital Market is one of the three markets for Nasdaq-listed stock and operates in the same manner as the Nasdaq Global Market. The Company’s shares, which were previously traded on the Nasdaq Global Market, will transfer to and begin trading on the Nasdaq Capital Market under its current symbol “CBRX” at the market opening on April 25, 2013. The Nasdaq Letter also states that the Company (1) has not been able to regain compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) within the initial 180 day compliance period and (2) is eligible for an additional 180 calendar days from the date of the Nasdaq Letter, or until October 21, 2013, to come into compliance with the Minimum Bid Price Requirement. As previously disclosed, on October 24, 2012, the Company received notification from Nasdaq that the bid price of its common stock had not met the minimum bid price of $1.00 per share required under the Minimum Bid Price Requirement for continued listing on the Nasdaq Global Market. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days in which to regain compliance with the Minimum Bid Price Requirement. If, at any time prior to October 21, 2013, the closing bid price of the Company’s shares is at least $1.00 per share for a minimum of 10 consecutive business days, unless the Nasdaq staff exercises its discretion to extend the 10-day period, the Nasdaq staff will provide to the Company written confirmation of compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance with the Minimum Bid Price Requirement by October 21, 2013, the Nasdaq staff will provide to the Company written notification that the Company’s shares are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. In any event, to meet the Minimum Bid Price Requirement to maintain its listing on the Nasdaq Capital Market, the Company may have to effect a reverse stock split, which would require the approval of the Company’s stockholders.