Navigation Links
Nephros Receives Non-Compliance Notification from AMEX
Date:9/18/2008

NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- Nephros, Inc. (Amex: NEP) today announced that the Company has received notice from the staff of the American Stock Exchange (AMEX) indicating that the Company is not in compliance with certain conditions of the continued listing standards of Section 1003 of the AMEX Company Guide. Specifically, AMEX noted the Company's failure to comply with Section 1003(a)(iii) of the AMEX Company Guide relating to stockholders' equity of less than $6,000,000 and losses from continuing operations and net losses in its five most recent fiscal years. The notice was based on a review by the AMEX of publicly available information. As the Company reported it its Quarterly Report on Form 10-Q filed on August 14, 2008, it had total stockholders' equity of approximately $4.8 million at June 30, 2008.

The Company has been afforded the opportunity to submit a plan of compliance to the AMEX by October 13, 2008 advising AMEX of the actions the Company has taken, or will take, that would bring it into compliance with the continued listing standard identified above by April 30, 2009. If AMEX accepts the plan, then the Company may be able to continue its listing during the plan period up to April 30, 2009, during which time the Company will be subject to periodic review to determine whether it is making progress consistent with the plan. If AMEX does not accept the Company's plan, or even if accepted, if the Company is not in compliance with the continued listing standards at the end of the plan period or the Company does not make progress consistent with the plan during such period, then AMEX may initiate delisting proceedings.

The Company is considering what actions it may take to regain compliance with the AMEX listing standards and intends to submit a compliance plan to the AMEX staff in a timely manner.

About Nephros Inc.

Nephros, Inc., headquartered in New York, is a medical device company developing and marketing products designed to improve the quality of life for the End-Stage Renal Disease (ESRD) patient, while addressing the critical financial and clinical needs of the care provider. ESRD is a disease state characterized by the irreversible loss of kidney function. Nephros products are sold and distributed throughout Europe and are currently being used in over fifty clinics in Europe.

Nephros also markets a line of water filtration products incorporating its patented dual stage cold sterilization filtration technology, the Dual Stage Ultrafilter (DSU), which produces biologically safe water. The DSU has the capability to filter out bacteria and, due to its exceptional filtration levels, filter out many viruses, parasites, and other biotoxins as well. The DSU is in pilot-use programs at several U.S. medical centers and has been selected for further development by the U.S. Marine Corps. For more information on Nephros please visit the Company's website, at http://www.nephros.com.

Forward-Looking Statements

Statements in this news release that are not historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Such statements may be preceded by words such as "may," "plans," "expects," "believes," "hopes," "potential" or similar words. For such statements, Nephros claims the protection of the PSLRA.

Forward-looking statements are not guarantees of future performance, are based on assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Nephros's control. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that Nephros may not be able: (i) to obtain funding if and when needed or on favorable terms; (ii) to continue as a going concern; (iii) to maintain compliance with the AMEX's continued listing standards; (iv) to demonstrate in pre-clinical or clinical trials the anticipated efficacy, safety or cost savings of products that appeared promising to Nephros in research or clinical trials; (v) to obtain appropriate or necessary governmental approvals to achieve its business plan or effectively market its products; (vi) to have its technologies and products accepted in current or future target markets; or (vii) to secure or enforce adequate legal protection, including patent protection, for its products. More detailed information about Nephros and the risk factors that may affect the realization of forward-looking statements is set forth in Nephros' filings with the SEC, including Nephros' Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007, and Nephros' Quarterly Report on Form 10-Q for the period ended June 30, 2008. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. Nephros does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.


'/>"/>
SOURCE Nephros, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Nephros Exhibiting at Maryland Ashe Conference July 20th-23rd
2. Nephros Appoints Gerald J. Kochanski as Chief Financial Officer
3. China Biologic Receives SFDA Approval for Clinical Trial of Human Coagulation Factor VIII
4. Barr Receives Approval for Generic Version of Razadyne(R) ER Capsules
5. Intact Medical Corporations Intact(R) Excise XL Receives 510(K) Marketing Clearance from the FDA
6. Cardica Receives $1 Million Milestone Payment From Cook Medical for Development of Heart Defect Closure Device
7. CTI Receives NASDAQ Letter
8. BioMS Medicals lead drug, dirucotide (MBP8298) for the treatment of multiple sclerosis, receives fast track designation from FDA
9. Repligen Receives Research Grants to Support Friedreichs Ataxia Development Program
10. ESA Receives 2008 Frost & Sullivan North American Technology Innovation Award for Development of Integrated Metabolomics Systems
11. Moffitt Cancer Center Receives Prestigious SPORE Grant Worth More Than $10 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/20/2017)... , June 20, 2017  Kibow Biotech Inc., a ... announce the issuance of a new patent covering a ... by the U.S. Patent and Trademark Office on May ... of the Buzz of Bio award in 2014 in ... to developing non-drug approaches to chronic disease. Renadylâ„¢, the ...
(Date:6/19/2017)... ... 19, 2017 , ... As Vice President, Product Services, Mr. ... implementation, support, and client process and SOP development. , Mr. Guinter brings a ... roles for service providers and top-tier pharmaceuticals, and as an independent consultant supported ...
(Date:6/16/2017)... Lexington, Massachusetts (PRWEB) , ... June 16, 2017 ... ... in medical device compliance and commercialization, has just announced two more sessions of ... of the series will focus on the world of online templates for design ...
(Date:6/15/2017)... ... June 15, 2017 , ... Cybrexa ... Series B round of financing in the amount of $6 million. An investment ... participated in the round. , The Series B funding will enable Cybrexa to ...
Breaking Biology Technology:
(Date:4/5/2017)... -- KEY FINDINGS The global market for ... of 25.76% during the forecast period of 2017-2025. The ... the growth of the stem cell market. ... INSIGHTS The global stem cell market is segmented on ... stem cell market of the product is segmented into ...
(Date:4/3/2017)... WASHINGTON , April 3, 2017 /PRNewswire-USNewswire/ ... single-cell precision engineering platform, detected a statistically ... cell product prior to treatment and objective ... highlight the potential to predict whether cancer ... prior to treatment, as well as to ...
(Date:3/30/2017)... 2017 The research team of The Hong ... fingerprint identification by adopting ground breaking 3D fingerprint minutiae recovery and ... speed and accuracy for use in identification, crime investigation, immigration control, ... ... A research team led ...
Breaking Biology News(10 mins):