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VIA Pharmaceuticals Complies With NASDAQ Rules
Date:3/27/2009

SAN FRANCISCO, March 27 /PRNewswire-FirstCall/ -- VIA Pharmaceuticals, Inc. (Nasdaq: VIAP), a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease, today announced, in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), that the independent audit report included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and filed with the Securities and Exchange Commission on March 27, 2009 contained explanatory paragraphs relating to the Company's ability to continue as a going concern. The disclosure in this press release is required under the above NASDAQ rule and does not represent any change to the Company's Annual Report on Form 10-K filed on March 27, 2009 with the Securities and Exchange Commission.

The Company also announced today that, as expected, it received a deficiency letter dated March 24, 2009 from NASDAQ Staff notifying the Company that as a result of the death over the March 21st weekend of Richard L. Anderson, an independent director and member of the Company's Audit Committee, Compensation Committee and Nominating and Governance Committee, the Company's Board of Directors is no longer comprised of a majority of independent directors and the Company's Audit Committee is no longer comprised of at least three independent directors, as required for continued listing by NASDAQ Marketplace Rules 4350(c)(1) and 4350(d)(2)(A), respectively. In accordance with NASDAQ Marketplace Rules, the Company has until September 17, 2009 to regain compliance with the NASDAQ listing standards. The Board of Directors of the Company intends to identify candidates to replace Mr. Anderson and appoint a new director who satisfies the independence requirements of the NASDAQ Marketplace Rules prior to September 17, 2009.

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SOURCE VIA Pharmaceuticals, Inc.
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