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Nile Therapeutics Announces Information in Compliance With NASDAQ Marketplace Rule 4350 and Reiterates 2009 Objectives
Date:3/18/2009

SAN FRANCISCO, March 18 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), a leading company in the development of novel therapeutics for heart failure patients, today announced that, pursuant to Nasdaq Marketplace Rule 4350(b)(1)(B), its audited financial statements for the fiscal year ended December 31, 2008, included in the Company's Annual Report on Form 10-K, filed on March 12, 2009, contained a going concern qualification from its independent registered public accounting firm, Hays & Company LLP.

This announcement is required by Nasdaq Marketplace Rule 4350(b)(1)(B), which requires separate disclosure of receipt of an audit opinion containing a going concern qualification. This announcement does not represent any change or amendment to the company's financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

2009 Objectives

Nile is focused on very specific clinical and corporate objectives:

  • To complete the dosing of a 30 patient, placebo-controlled Phase 2b study in the 3rd quarter of 2009. This study is designed to provide additional clinical evidence that CD-NP enhances renal function. This finding would favorably differentiate CD-NP from other acute heart failure therapies.
  • Through financing, partnering or other strategic alternative, secure the resources necessary to continue development activities beyond the 30 patient Phase 2b study.
  • To start enrollment into the 330 patient double-blind, placebo-controlled Phase 2b acute heart failure Proof of Concept study.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular
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SOURCE Nile Therapeutics, Inc.
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