Navigation Links
Memory Pharmaceuticals Receives Anticipated NASDAQ Staff Determination Letter
Date:6/9/2008

- Company to Request a Hearing -

MONTVALE, N.J., June 9 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced that on June 6, 2008 it received a letter from the NASDAQ Listing Qualifications Department notifying the Company that, because it has not regained compliance with the $1.00 bid price requirement set forth in Marketplace Rule 4450(a)(5), its securities are subject to delisting from The NASDAQ Global Market, unless the Company requests a hearing. The Company intends to request a hearing before the NASDAQ Listing Qualifications Panel, which will automatically stay the delisting of the Company's securities until the Panel issues a decision following the hearing.

At the hearing, the Company expects to present its plan to achieve and sustain compliance with all requirements for continued listing, including the minimum stockholders' equity requirement. As set forth in the Company's proxy statement dated May 19, 2008 relating to its 2008 Annual Meeting of Stockholders, the Company is requesting stockholder approval to effect a reverse stock split to remedy the bid price deficiency. As previously announced, the Company has also been notified by NASDAQ that it is currently below the $10.0 million stockholders' equity requirement for continued listing on The NASDAQ Global Market.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders, many of which exhibit significant impairment of memory and other cognitive functions, including Alzheimer's disease and schizophrenia. For additional information, please visit our website at http://www.memorypharma.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Memory Pharmaceuticals' prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including the outcome of clinical trials of Memory Pharmaceuticals' drug candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with: obtaining additional financing to support Memory Pharmaceuticals' R&D and clinical activities and operations; obtaining regulatory approvals to conduct clinical trials and to commercialize Memory Pharmaceuticals' drug candidates; Memory Pharmaceuticals' ability to enter into and maintain collaborations with third parties for its drug development programs; Memory Pharmaceuticals' dependence on its collaborations and its license relationships; achieving milestones under Memory Pharmaceuticals' collaborations; Memory Pharmaceuticals' dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers and consultants; protecting the intellectual property developed by or licensed to Memory Pharmaceuticals; and Memory Pharmaceuticals' ability to maintain listing on the Nasdaq Global Market. These and other risks are described in greater detail in Memory Pharmaceuticals' filings with the Securities and Exchange Commission. Memory Pharmaceuticals may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Memory Pharmaceuticals disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.


'/>"/>
SOURCE Memory Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Memory Pharmaceuticals Reports First Quarter 2008 Financial Results
2. Memory Pharmaceuticals to Announce First Quarter 2008 Results on Wednesday, May 14, 2008
3. Memory in artificial atoms
4. Memory Pharmaceuticals Receives Nasdaq Notification
5. Memory Pharmaceuticals Receives Audit Opinion Containing Going Concern Qualification
6. Memory Pharmaceuticals Refocuses to Advance Development and Clinical Programs
7. Memory Pharmaceuticals to Announce Fourth Quarter and Full Year 2007 Results on Thursday, March 6, 2008
8. Memory Pharmaceuticals to Present at the 10th Annual BIO CEO & Investor Conference
9. Amarin to Commence Phase II Trial With AMR101 in Age Associated Memory Impairment
10. Memory Pharmaceuticals Initiates Phase 2a Trial of MEM 3454 in Cognitive Impairment Associated with Schizophrenia
11. Memory Pharmaceuticals to Announce Third Quarter Results on Thursday, November 8, 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... ... Researchers at the Universita Politecnica delle Marche in Ancona combed medical journal articles ... findings are the subject of a new article on the Surviving Mesothelioma website. ... blood, lung fluid or tissue of mesothelioma patients that can help point doctors to ...
(Date:6/23/2016)...   Boston Biomedical , an industry leader ... target cancer stemness pathways, announced that its lead ... Designation from the U.S. Food and Drug Administration ... gastroesophageal junction (GEJ) cancer. Napabucasin is an orally ... stemness pathways by targeting STAT3, and is currently ...
(Date:6/23/2016)... Houston Methodist Willowbrook Hospital has signed ... to serve as their official health care provider. ... will provide sponsorship support, athletic training services, and ... volunteers, athletes and families. "We are ... and to bring Houston Methodist quality services and ...
(Date:6/23/2016)...  The Biodesign Challenge (BDC), a university competition that ... living systems and biotechnology, announced its winning teams at ... New York City . The teams, ... at MoMA,s Celeste Bartos Theater during the daylong summit. ... curator of architecture and design, and Suzanne Lee ...
Breaking Biology Technology:
(Date:6/22/2016)... 22, 2016  The American College of Medical Genetics and ... Magazine as one of the fastest-growing trade shows during ... the Bellagio in Las Vegas . ... of growth in each of the following categories: net square ... number of attendees. The 2015 ACMG Annual Meeting was ranked ...
(Date:6/16/2016)... , June 16, 2016 ... size is expected to reach USD 1.83 billion ... Grand View Research, Inc. Technological proliferation and increasing ... applications are expected to drive the market growth. ... , The development of advanced multimodal ...
(Date:6/3/2016)... , June 3, 2016 ... Management) von Nepal ... und Lieferung hochsicherer geprägter Kennzeichen, einschließlich Personalisierung, ... führend in der Produktion und Implementierung von ... der Ausschreibung im Januar teilgenommen, aber Decatur ...
Breaking Biology News(10 mins):