Navigation Links
Memory Pharmaceuticals Receives Nasdaq Notification
Date:4/4/2008

MONTVALE, N.J., April 4, 2008 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced that on April 2, 2008, it received notice from The Nasdaq Stock Market stating that the Company is no longer in compliance with the minimum $10.0 million stockholders' equity requirement for continued listing on The Nasdaq Global Market under Marketplace Rule 4450(a)(3). As reported in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, the Company's stockholders' equity was $8.3 million.

In the letter, Nasdaq staff requested that the Company provide, on or before April 17, 2008, a plan to achieve and sustain compliance with all of The Nasdaq Global Market listing requirements, including the minimum stockholders' equity requirement, and the time frame required to complete the plan. The Company is preparing its plan for submission to Nasdaq by the specified date.

If, after the conclusion of the Nasdaq staff's review process, the staff determines that the Company has not presented an appropriate definitive plan, the staff will provide the Company with a written notification that its securities will be delisted from The Nasdaq Global Market. The Company may then appeal the Nasdaq staff's delisting determination to the Nasdaq Listing Qualifications Panel.

The notification letter has no effect at this time on the continued listing of Memory Pharmaceuticals' common stock 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 Receives Audit Opinion Containing Going Concern Qualification
2. Memory Pharmaceuticals Refocuses to Advance Development and Clinical Programs
3. Memory Pharmaceuticals to Announce Fourth Quarter and Full Year 2007 Results on Thursday, March 6, 2008
4. Memory Pharmaceuticals to Present at the 10th Annual BIO CEO & Investor Conference
5. Amarin to Commence Phase II Trial With AMR101 in Age Associated Memory Impairment
6. Memory Pharmaceuticals Initiates Phase 2a Trial of MEM 3454 in Cognitive Impairment Associated with Schizophrenia
7. Memory Pharmaceuticals to Announce Third Quarter Results on Thursday, November 8, 2007
8. ASU researchers improve memory devices using nanotech
9. BioMedical Enterprises, Inc. (BME) Receives FDA Clearance for Spine Use of Its Memory Metal Implants
10. Amarin Announces Publication of Pre-Clinical Memory Data in Journal of Neurochemistry
11. Scientists synthesize memory in yeast cells
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... ... April 29, 2016 , ... Amendia, Inc., ... surgical procedures, today announced the completion of a significant transaction and partnership that ... future customers and partners. Kohlberg & Company, L.L.C. (“Kohlberg”), a leading private ...
(Date:4/29/2016)... ... 29, 2016 , ... Summit for Stem Cell has received a $250,000 grant ... stem cell therapy for the treatment of Parkinson’s disease. The Summit research project is ... Scripps Research Institute in San Diego, CA. , The aim of of ...
(Date:4/28/2016)... , April 28, 2016 ... Stirling, and Brayton Cryocoolers), Service (Technical Support, Product Repairs ... Geography - Global Forecast to 2022", published by MarketsandMarkets, ... 2.94 Billion by 2022, at a CAGR of 7.29% ... market data Tables and 94 Figures spread through 159 ...
(Date:4/28/2016)... ... 2016 , ... Next week on May 5 at 2:55 ... for tissue stem cell counting and expansion to gene-editing scientists and other attendees ... Genome Engineering in Burlington, Massachusetts. , The attention of most gene-editing scientists appears ...
Breaking Biology Technology:
(Date:4/26/2016)... LONDON , April 26, 2016 /PRNewswire/ ... Systems, a product subsidiary of Infosys (NYSE: ... partnership to integrate the Onegini mobile security platform ... http://photos.prnewswire.com/prnh/20151104/283829LOGO ) The integration ... security to access and transact across channels. Using ...
(Date:4/15/2016)... 2016 Research and Markets has ... Market 2016-2020,"  report to their offering.  , ... ,The global gait biometrics market is expected to ... period 2016-2020. Gait analysis generates multiple ... used to compute factors that are not or ...
(Date:3/31/2016)... R.I. , March 31, 2016  Genomics firm ... of founding CEO, Barrett Bready , M.D., who ... members of the original technical leadership team, including Chief ... President of Product Development, Steve Nurnberg and Vice President ... returned to the company. Dr. Bready served ...
Breaking Biology News(10 mins):