Arno Therapeutics to Deregister its Common Stock under the Ex...( PARSIPPANY N.J. May 4 /- Arno Therape...)

PARSIPPANY, N.J., May 4 /PRNewswire-FirstCall/ -- Arno Therapeutics, Inc. (OTC Bulletin Board: ARNI), a clinical-stage biopharmaceutical company focused on oncology therapeutics, today announced that it has voluntarily filed a Form 15 with the Securities and Exchange Commission ("SEC") in order to deregister its common stock under the Securities and Exchange Act of 1934. As a result, effective immediately, Arno's obligation to file periodic and other reports under the Exchange Act is suspended. The Company's decision to deregister its Exchange Act registration is part of its plan to reduce expenses and allocate the costs savings to the further development of its clinical compounds.

The Company's decision is based upon the additional financial and administrative costs and burdens associated with being a public reporting company subject to the regulations promulgated under the Exchange Act. The Company estimates the costs savings to be approximately $300,000 annually that the Company intends to redirect towards advancing its clinical development programs.

The SEC has 90 days to review the Company's Form 15 for compliance with the decertification requirements. However, effective immediately, as a result of the filing of the Form 15, the Company is no longer required to file reports under the Exchange Act, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K. In addition, certain requirements of the Sarbanes Oxley Act of 2002 will no longer apply to the Company. The Company is eligible to deregister under the Exchange Act because its common stock is held of record by fewer than 300 persons.

About Arno Therapeutics

Arno Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops and commercializes innovative products for the treatment of cancer patients. Arno's lead clinical development compound
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