CHICAGO, Feb. 5 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), today announced that on February 2, 2009 it received a letter from the Nasdaq Listing Qualifications Panel (the "Panel") informing the Company that the Panel has determined to grant the Company's request to remain listed on the Nasdaq Capital Market. The Panel granted the Company through May 4, 2009 to evidence compliance with the listing requirements of the Nasdaq Capital Market.
The Panel's determination follows a hearing held on December 18, 2008 at which the Panel considered the Company's plan to regain compliance with the $2.5 million stockholders' equity listing requirement. Pursuant to the Panel's determination, the Company will keep the Panel informed of all key developments that may impact the Company's ability to regain compliance. Should the Company be unable to meet the requirements of the Panel's decision by May 4, 2009, its securities would be subject to delisting from the Nasdaq Capital Market.
About Advanced Life Sciences
Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases. The Company's lead candidate, cethromycin, is a novel once-a-day oral antibiotic with a filed new drug application under review by the FDA for the treatment of mild-to-moderate community acquired pneumonia. For more information, please visit us on the web at www.advancedlifesciences.com.
|SOURCE Advanced Life Sciences Holdings, Inc.|
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