Unilife Corporation (NASDAQ: UNIS; ASX: UNS) announced today that it has received a letter from The NASDAQ Stock Market LLC ("NASDAQ") notifying the Company that it is not in compliance with NASDAQ Listing Rule 5250(c)(1) because it has not filed its Annual Report on Form 10-K for the period ended June 30, 2016 (the "Form 10-K") in a timely manner with the Securities and Exchange Commission (the "SEC"). NASDAQ Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC.

In addition, as previously disclosed, the Company is required under a listing rule of the Australian Securities Exchange ("ASX") to file audited financial statements with ASX no later than September 30, 2016 (the "ASX Deadline"). The Company applied for a waiver of this rule and ASX denied such waiver request. If the Company does not file such audited financial statements by the ASX Deadline, trading in the Company's CHESS Depositary Interests ("CDIs") on the ASX will be suspended immediately prior to opening of trading on ASX on October 3, 2016 in Australia and such trading will not resume until the Company files its audited financial statements with the ASX. If trading of the Company's CDIs is suspended on the ASX, NASDAQ has informed the Company that it will halt trading of its common stock on NASDAQ at least until trading of the Company's CDIs resumes on the ASX.

As previously disclosed, the Company has not timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2016. As a result, the Company submitted a plan (the "Original Compliance Plan") to NASDAQ as to how it plans to regain compliance with NASDAQ's continued listing requirements. NASDAQ subsequently granted the Company an exception until November 7, 2016 (the "Filing Deadline") to regain compliance with NASDAQ Listing Rule 5250(c)(1).

The NASDAQ letter, which is dated September 19, 2016, requires the Company to submit to NASDAQ an update to the Original Compliance Plan no later than October 4, 2016, which update must include the Company's plans to file the Form 10-K and indicate the progress the Company has made towards implementing the Original Compliance Plan.

The Company currently intends to file both the Form 10-Q and the Form 10-K in advance of expiration of theNovember 7, 2016 deadline. The NASDAQ letter has no immediate effect on the listing of the Company's common stock on the NASDAQ Global Market.

About Unilife Corporation

Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based developer and commercial supplier of injectable drug delivery systems. Unilife has a portfolio of innovative, differentiated products with a primary focus on wearable injectors. Products within each platform are customizable to address specific customer, drug and patient requirements. Unilife's global headquarters and manufacturing facilities are located in York, PA. For more information, visit www.unilife.com.