Navigation Links
TorreyPines Therapeutics Receives Notice of Non-Compliance with Nasdaq Continued Listing Requirements
Date:4/2/2009

LA JOLLA, Calif., April 2 /PRNewswire/ -- TorreyPines Therapeutics, Inc. (Nasdaq: TPTX) today announced that on March 31, 2009 it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") notifying the Company that based on the Company's stockholders' equity as reported in its Annual Report on Form 10-K for the year ended December 31, 2008, the Company does not comply with the minimum stockholders' equity requirement of $10 million for continued listing on The Nasdaq Global Market as set forth in NASDAQ Marketplace Rule 4450(a)(3).

The Company has until April 15, 2009 to provide a specific plan to achieve and sustain compliance with all of the Nasdaq Global Market continued listing requirements, including a time frame for completion of the plan. The Nasdaq letter has no immediate effect on the listing of the Company's common stock.

In the event that the Company receives notice that its common stock is being delisted from the Nasdaq Global Market, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a Nasdaq Listing Qualifications Panel. Alternatively, Nasdaq may permit the Company to transfer its common stock to the Nasdaq Capital Market if it satisfies the requirements for continued listing on that market.

About TorreyPines Therapeutics

TorreyPines Therapeutics, Inc. is a biopharmaceutical company committed to providing patients with better alternatives to existing therapies through the research, development and commercialization of small molecule compounds. The company's goal is to develop versatile product candidates each capable of treating a number of acute and chronic diseases and disorders such as migraine, acute and chronic pain, and xerostomia. The company currently has three clinical stage product candidates: two ionotropic glutamate receptor antagonists and one muscarinic receptor agonist. Further information is available at www.tptxinc.com.

This press release contains forward-looking statements or predictions. Such forward-looking statements include, but are not limited to, statements regarding the ability for TorreyPines to complete a strategic transaction, including a possible sale of the Company. Such statements are subject to numerous known and unknown risks, uncertainties and other factors, which may cause TorreyPines' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These and other risks which may cause results to differ are described in greater detail in the "Risk Factors" section of TorreyPines' annual report on Form 10-K for the year ended December 31, 2008 and TorreyPines other SEC reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and TorreyPines undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

    Company Contact:
    Paul Schneider
    TorreyPines Therapeutics, Inc.
    858-623-5665, x125
    pschneider@TPTXinc.com


'/>"/>
SOURCE TorreyPines Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Stockholder Suits Related to TorreyPines Therapeutics, Inc. Dismissed
2. TorreyPines Therapeutics Reports Fourth Quarter and Full Year 2008 Results
3. First Multiple Dose Clinical Trial of TorreyPines Therapeutics Oral Compound NGX426 Demonstrates Compound Is Safe and Well-Tolerated
4. TorreyPines Therapeutics Enters into Agreement to Reduce Royalty Rates and Delay Clinical Milestone Payments Due to Eli Lilly for NGX426 and Tezampanel
5. TorreyPines Therapeutics Appoints Evelyn Graham Chief Executive Officer and a Member of the Board of Directors
6. TorreyPines Therapeutics Reports Third Quarter 2008 Results and Recent Accomplishments
7. TorreyPines Therapeutics Sells Alzheimers Disease Genetics Program to Eisai
8. TorreyPines Therapeutics Begins Dosing in a Phase I Multiple Dose Clinical Trial of NGX426, Oral Prodrug of Tezampanel
9. TorreyPines Therapeutics Reports Successful End-of-Phase II Meeting With FDA for Tezampanel
10. TorreyPines Therapeutics Strategically Repositions as Development Company Focusing on Three Versatile Lead Compounds
11. TorreyPines Therapeutics Receives NASDAQ Deficiency Notice
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... Personal eye wash is a basic first aid supply for ... time. So which eye do you rinse first if a dangerous substance enters both eyes? ... Eye Wash with its unique dual eye piece. , “Whether its dirt and debris, ...
(Date:10/11/2017)... HILLS, Calif. , Oct. 11, 2017  SkylineDx today ... (ICR) and University of Leeds ... risk-stratify patients with multiple myeloma (MM), in a multi-centric Phase ... University of Leeds is the sponsor ... and ICR will perform the testing services to include high-risk ...
(Date:10/10/2017)... , ... October 10, 2017 , ... San Diego-based team ... its corporate rebranding initiative announced today. The bold new look is part of ... the company moves into a significant growth period. , It will also expand its ...
(Date:10/10/2017)... 10, 2017 International research firm Parks Associates announced ... at the TMA 2017 Annual Meeting , October 11 in ... residential home security market and how smart safety and security products impact ... Parks Associates: Smart Home ... "The residential security market has ...
Breaking Biology Technology:
(Date:6/14/2017)... June 15, 2017  IBM (NYSE: IBM ) is introducing ... event dedicated to developing collaboration between startups and global businesses, ... 15-17. During the event, nine startups will showcase the solutions ... various industries. France ... market, with a 30 percent increase in the number of ...
(Date:4/24/2017)... 24, 2017 Janice Kephart , ... Identity Strategy Partners, LLP (IdSP) , today issues ... President Trump,s March 6, 2017 Executive Order: ... vetting can be instilled with greater confidence, enabling ... all refugee applications are suspended by until at ...
(Date:4/13/2017)... According to a new market research report "Consumer IAM Market by ... Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast to ... USD 14.30 Billion in 2017 to USD 31.75 Billion by 2022, at ... ... MarketsandMarkets Logo ...
Breaking Biology News(10 mins):