Advanced Life Sciences Announces Receipt of Nasdaq St...( CHICAGO Aug. 16 /- Advanced Life ...)

CHICAGO, Aug. 16 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), today announced that on August 13, 2007 the Nasdaq Listings Qualifications Department informed the Company that the market value of its listed securities was below $50 million for 10 consecutive days, which is the requirement for continued listing on the Nasdaq Global Market according to Marketplace Rule 4450(b)(1)(A). Nasdaq also informed the Company that it is not in compliance with Marketplace Rule 4450(b)(1)(B), which requires total assets and total revenue of $50 million each for the most recently completed fiscal year or two of the last three most recently completed fiscal years.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050428/CGTH039LOGO )

Advanced Life Sciences has been provided 30 calendar days, or until September 12, 2007, to regain compliance with the continued listing requirements of the Nasdaq Global Market. If at anytime prior to September 12, 2007, the market value of listed securities of the Company's common stock is $50 million or more for a minimum of 10 consecutive business days, this could constitute meeting the criteria for continued listing on the Nasdaq Global Market. Alternatively, the Company may apply to transfer its securities to the Nasdaq Capital Market, for which the Company believes it currently satisfies the financial and other listing requirements.

"We are confident in the progress we have made as a Company and are motivated to meet the compliance standards of the Nasdaq Global Market," stated Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "We
'/>"/>

SOURCE Advanced Life Sciences Holdings, Inc. Copyright©2007 PR Newswire.

0 GOOD