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Alseres Pharmaceuticals, Inc. Receives Notice of De-Listing of Its Securities for Failure to Regain Compliance with Continued Listing Requirements
Date:4/14/2009

HOPKINTON, Mass., April 14 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE) announced that on April 9, 2009 it received a NASDAQ Staff Determination indicating that the Company has not regained compliance with the minimum $35 million market value of listed securities requirement set forth in NASDAQ Marketplace Rule 4310(c)(3)(B) (the "Rule"), and that, accordingly, the Company's common stock will be delisted from The NASDAQ Capital Market unless the Company requests an appeal of the determination. The Company intends to appeal the determination by requesting a written hearing before a NASDAQ Listing Qualifications Panel (the "Panel"). Consequently, the Company's common stock will remain listed on The NASDAQ Capital Market until the Panel renders a decision following the hearing. However, there can be no assurance that the Panel will grant the Company's request for continued listing.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080813/NEW056LOGO )

If the Company is unsuccessful in maintaining its NASDAQ listing, then the Company may pursue quotation of the Company's common stock on the OTC Bulletin Board or listing on a securities exchange or association with different listing standards than NASDAQ.

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of diagnostic and therapeutic products primarily for disorders in the central nervous system (CNS). The Company has a robust molecular imaging development program targeting diagnosis of Parkinson's disease and potentially dementia. The Company's lead molecular imaging product candidate is Altropan
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SOURCE Alseres Pharmaceuticals, Inc.
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