Navigation Links
Hollis-Eden Pharmaceuticals Receives NASDAQ Notification Related to Minimum Bid Price
Date:9/16/2009

SAN DIEGO, Sept. 16 /PRNewswire-FirstCall/ -- Hollis-Eden Pharmaceuticals, Inc. (Nasdaq: HEPH), a leader in the development of a new class of small molecule compounds based on endogenous adrenal steroid hormones, today announced that it received a letter from The NASDAQ Stock Market on September 15, 2009.

The letter states that Hollis-Eden is not in compliance with Nasdaq Marketplace Rule 4450(a)(5) (the "Minimum Bid Price Rule") because its common stock had closed below $1.00 per share for 30 consecutive business days. The letter also states that in accordance with Nasdaq Marketplace Rules, Hollis-Eden has 180 days, or until March 15, 2010, to regain compliance with the Minimum Bid Price Rule. This letter has no immediate effect on the NASDAQ listing or trading of Hollis-Eden's common stock.

Hollis-Eden will regain compliance with the Minimum Bid Price Rule if the bid price of its common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days before March 15, 2010. However, if Hollis-Eden does not regain compliance with the Minimum Bid Price Rule by March 15, 2010, the Nasdaq staff will provide Hollis-Eden with a written notification that its common stock is subject to delisting.

Hollis-Eden will monitor the bid price for its common stock and consider available options.

About Hollis-Eden Pharmaceuticals, Inc.

Hollis-Eden Pharmaceuticals, Inc. is developing a new series of small molecule compounds that are metabolites or synthetic analogs of endogenous hormones derived by the adrenal glands from the body's most abundant circulating adrenal steroid. Hollis-Eden's clinical drug development candidates include TRIOLEX(R) (HE3286), a next-generation compound currently in clinical trials for the treatment of type 2 diabetes, ulcerative colitis and rheumatoid arthritis, and APOPTONE(R) (HE3235), a next-generation compound in a clinical trial for the treatment of late-stage prostate cancer. For more information on Hollis-Eden, visit its website at www.holliseden.com.

This press release contains forward-looking statements within the meaning of the federal securities laws concerning, among other things, the potential and prospects of Hollis-Eden Pharmaceuticals, Inc. regaining and maintaining compliance with the listing standards of the NASDAQ Global Market and its drug discovery program and its drug candidates. Any statement included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Hollis-Eden's actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Such statements are subject to certain risks and uncertainties inherent in the Company's business, including, but not limited to: the ability to complete preclinical and clinical trials successfully and within specified timelines, if at all; the ability to obtain regulatory approval for TRIOLEX(R) (HE3286), APOPTONE(R) (HE3235) or any other investigational drug candidate; the Company's future capital needs; the Company's ability to obtain additional funding; the ability of the Company to protect its intellectual property rights and to not infringe the intellectual property rights of others; the development of competitive products by other companies; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, Hollis-Eden undertakes no obligation to update or revise the information contained in this press release as a result of new information, future events or circumstances arising after the date of this press release.


'/>"/>
SOURCE Hollis-Eden Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Hollis-Eden Pharmaceuticals Announces Appointment of Dr. James M. Frincke President and CEO
2. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
3. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
4. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
5. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
6. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
7. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
8. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
9. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
10. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
11. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... 27, 2016 , ... Rolf K. Hoffmann, former senior vice ... University of North Carolina Kenan-Flagler Business School effective June 27. , ... with a focus on the school’s international efforts, leading classes and participating in ...
(Date:6/24/2016)... ... June 24, 2016 , ... While the majority of commercial spectrophotometers and ... and the 6000i models are higher end machines that use the more unconventional z-dimension ... light beam from the bottom of the cuvette holder. , FireflySci has developed ...
(Date:6/23/2016)... 2016 /PRNewswire/ - FACIT has announced the creation ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" or "the ... a portfolio of first-in-class WDR5 inhibitors for the ... WDR5 represent an exciting class of therapies, possessing ... for cancer patients. Substantial advances have been achieved ...
(Date:6/23/2016)... NEW YORK , June, 23, 2016  The ... students to envision new ways to harness living systems ... of Modern Art (MoMA) in New York ... more than 130 participating students, showcased projects at MoMA,s ... included Paola Antonelli , MoMA,s senior curator of ...
Breaking Biology Technology:
(Date:6/22/2016)... LOS ANGELES , June 22, 2016 ... of identity management and verification solutions, has ... cutting edge software solutions for Visitor Management, ... ® provides products that add functional ... The partnership provides corporations and venues with ...
(Date:6/20/2016)... Securus Technologies, a leading provider of ... safety, investigation, corrections and monitoring announced that after ... secured the final acceptance by all three (3) ... Systems (MAS) installed. Furthermore, Securus will have contracts ... by October, 2016. MAS distinguishes between legitimate wireless ...
(Date:6/9/2016)... 2016  Perkotek an innovation leader in attendance control systems is proud to announce ... for employers to make sure the right employees are actually signing in, and to ... ... ... ...
Breaking Biology News(10 mins):