Navigation Links
PLC Systems Expects Common Stock To Be Delisted From American Stock Exchange

FRANKLIN, Mass., Oct. 17 /PRNewswire-FirstCall/ -- PLC Systems Inc. (AMEX: PLC) today announced that it has not submitted a plan to the American Stock Exchange that would demonstrate its ability to regain compliance with the Exchange's listing standards. Accordingly, the company anticipates that its common stock will be delisted from the American Stock Exchange in the next several weeks, and begin to trade on the over-the-counter bulletin board.

As previously announced, PLC received a notice of failure to meet listing qualifications dated September 17, 2008 from the Listing Qualifications Department staff at the American Stock Exchange. The notice stated that the Company was not in compliance with Section 1003(a)(ii) of the AMEX Company Guide because the Company's shareholders' equity was less than $4,000,000 as of June 30, 2008, and it incurred losses from continuing operations and net losses in three out of its four most recent fiscal years.

About PLC Systems Inc.

PLC Systems Inc. is a medical technology company specializing in innovative technologies for the cardiac and vascular markets.

PLC's newest product, RenalGuard(TM), is approved for sale in the EU as a general fluid balancing device. The RenalGuard System(TM) consists of a unique, proprietary, closed loop, software-controlled console and accompanying single-use sets that can be used by physicians and nurses to balance patient fluid levels during a variety of medical procedures. The RenalGuard System, with its matched fluid replacement capability, is intended to minimize the risk of over- or under-hydration during medical procedures where creating and maintaining high urine outputs is deemed beneficial to patients.

Headquartered in Franklin, Massachusetts, PLC pioneered the CO2 Heart Laser System, which cardiac surgeons use to perform CO2 transmyocardial revascularization (TMR) to alleviate symptoms of severe angina. CO2 TMR offers a treatment option for angina patients who suffer from severe coronary artery disease. The CO2 Heart Laser is the world's first TMR angina relief device cleared for commercial distribution by both the U.S. Food and Drug Administration and Japanese Ministry of Health, Labor and Welfare, and to obtain a CE Mark for European distribution.

Additional company information can be found at

This press release contains "forward-looking" statements. For this purpose, any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will" and similar expressions are intended to identify forward-looking statements. While we may elect to update forward-looking statements in the future, we specifically disclaim any obligation to do so, even if our estimates change, and you should not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Actual results could differ materially from those indicated by such forward-looking statements as a result of a variety of important factors, including that we may not receive necessary regulatory approvals to market our RenalGuard product or that such approvals may be withdrawn, we may be unable to raise sufficient funds in the future to implement our business plan and/or commence our planned U.S. clinical trial for RenalGuard, the current CCM clinical trial and the planned future U.S. clinical trial for RenalGuard as a safe and effective CIN prevention device may not be completed in a timely fashion if at all, or, if these clinical trials are completed, they may not produce clinically significant or meaningful results, the RenalGuard product may not be commercially accepted, operational changes, competitive developments may affect the market for our products, regulatory approval requirements may affect the market for our products, and additional risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2007, and our other SEC reports.

PLC Systems, PLC Medical Systems, PLC, CO2 Heart Laser, RenalGuard and RenalGuard System are trademarks of PLC Systems Inc.

Contact: Mary T. Conway

Conway Communications


SOURCE PLC Systems Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
2. Cepheid Enters Into Five-Year Agreement With Northrop Grumman for the Purchase of Anthrax Test Cartridges for Use in United States Postal Service Biohazard Detection Systems
3. BioMaxx Systems Inc. Signs Engagement Letter With Alcofuel Technologies for Provision of an Ethanol Micro-Refinery
4. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
5. NxStage Medical Provides Update on Medisystems Acquisition
6. ICx Awarded $1.5 M Contract by Department of Homeland Security for Development of Next Generation Bio Aerosol Systems
7. Imaging Diagnostic Systems New Laser Breast Imaging Scanner Introduced in Malaysia
8. Varian Medical Systems Exhibits Latest Technologies and Products Designed to Improve Speed and Precision of Radiotherapy at ESTRO 2007
9. Biomaxx Systems Inc. Selected as Technical Consultant By Southern Cross Agricultural Developments
10. Sigma-Aldrich and Ingenuity Systems Announce Partnership to Create E-Commerce Search Solution Based on Biological Knowledge
11. Ingenuity Systems Joins Biomarkers Consortium
Post Your Comments:
(Date:11/26/2015)... 26, 2015 ... Accutest Research Laboratories, a leading independent ... (CRO), has formed a strategic partnership ... Temple Health for joint work on ... ) , --> ...
(Date:11/25/2015)... November 25, 2015 Studies reveal ... human plaque and pave the way for more effective treatment ... cats     --> ... diagnosed health problems in cats, yet relatively little was understood ... collaborative studies have been conducted by researchers from the WALTHAM ...
(Date:11/25/2015)... DIEGO , Nov. 25, 2015 Orexigen® ... management will participate in a fireside chat discussion at ... New York . The discussion is scheduled ... .  A replay will be ... Media Contact:McDavid Stilwell  , Julie NormartVP, Corporate Communications ...
(Date:11/24/2015)... Cepheid (NASDAQ: CPHD ) today announced ... conference, and invited investors to participate via webcast. ... December 1, 2015 at 11.00 a.m. Eastern Time ... December 1, 2015 at 11.00 a.m. Eastern Time ... York, NY      Tuesday, December 1, 2015 at ...
Breaking Biology Technology:
(Date:11/4/2015)... --> --> ... Transparency Market Research "Home Security Solutions Market - Global Industry ... 2022", the global home security solutions market is expected to reach ... market is estimated to expand at a CAGR of ... Rising security needs among customers at homes, the emergence ...
(Date:10/29/2015)... , Oct. 29, 2015   MedNet Solutions ... the entire spectrum of clinical research, is pleased to ... High Tech Association (MHTA) as one of only three ... the "Software – Small and Growing" category. The Tekne Awards ... who have shown superior technology innovation and leadership. ...
(Date:10/29/2015)... RESTON, Va. , Oct. 29, 2015 ... announced today that it has released a new version ... Daon customers in North America ... gains. IdentityX v4.0 also includes a FIDO UAF ... customers are already preparing to activate FIDO features. These ...
Breaking Biology News(10 mins):