Navigation Links
Alseres Pharmaceuticals, Inc. Receives Notice of Non-Compliance with Continued Listing Requirements
Date:1/12/2009

HOPKINTON, Mass., Jan. 12 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc. today announced that on January 8, 2009, it received notice from the NASDAQ Stock Market ("NASDAQ") that for the last 10 consecutive trading days, the market value of its listed securities has been below the minimum $35 million requirement for continued inclusion under NASDAQ Marketplace 4310(c)(3)(B). Furthermore, NASDAQ stated that the Company does not comply with NASDAQ Marketplace Rule 4310(c)(3)(A) or 4310(c)(3)(C), which requires the Company to have either minimum stockholders' equity of $2.5 million or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years.

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

In accordance with NASDAQ Marketplace Rule 4310(c)(8)(C), the Company was provided thirty calendar days, or until February 9, 2009 (the "Compliance Period"), to regain compliance. This requires, at a minimum, that the market value of listed securities of the Company's common stock remain $35,000,000 or more for a minimum of 10 consecutive business days at anytime prior to February 9, 2009.

If the Company does not regain compliance within the Compliance Period, NASDAQ will provide the Company with written notification that the Company's common stock will be delisted from the NASDAQ Capital Market. At that time, the Company may appeal the determination by the NASDAQ Staff to delist its common stock to a Listing Qualifications Panel. The Company is currently considering actions that may allow it to regain compliance with the NASDAQ continued listing standards and maintain its NASDAQ listing. There is no assurance that the Company will be able to take any of these actions or that any of the actions will be sufficient to allow the Company's NASDAQ listing to continue or for how long such listing will continue. If the Company is unsuccessful in maintaining its NASDAQ listing, then the Company may pursue listing and trading of the Company's common stock on the Over-The-Counter Bulletin Board or another securities exchange or association with different listing standards than NASDAQ.

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of therapeutic and diagnostic products primarily for disorders in the central nervous system (CNS). The Company maintains a world-class intellectual property position in the field of regenerative therapeutics. The Company's energy and focus is reflected in several important initiatives. Cethrin, a recombinant-protein-based drug designed to promote nerve repair after acute spinal cord injury, demonstrated positive interim results in a Phase I/IIa clinical trial. The Company's research and pre-clinical programs include, Inosine for the treatment of spinal cord injury and stroke, Oncomodulin for the treatment of ocular injury and disease and research programs directed at a number of regenerative therapies including bone repair. 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 Altropane which is in Phase III clinical trials for the diagnosis of Parkinsonian Syndromes including Parkinson's Disease. The Company has research collaborations with Harvard Medical School and Children's Hospital Boston.

Forward-Looking Statements

The foregoing release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Alseres' future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including the Company's ability to obtain financing, the development and commercialization of Altropane and Cethrin, the prospects of the Company's CNS and regenerative therapeutics programs, the Company's strategies to develop and commercialize axon regeneration technologies and the breadth of the Company's technologies and intellectual property portfolio. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Alseres from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Alseres is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.

Alseres, Cethrin and Altropane are registered trademarks of Alseres Pharmaceuticals, Inc.

    Contact:
    Sharon Correia
    Alseres Pharmaceuticals, Inc
    508-497-2360 ext. 224
    scorreia@alseres.com


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

Related medicine news :

1. Alseres Pharmaceuticals, Inc. to Present at New York Society of Security Analysts Conference
2. Alseres Pharmaceuticals, Inc. Raises $5 Million
3. Alseres Pharmaceuticals, Inc. Complies With NASDAQ Rule Regarding Recently Filed 10-K
4. Alseres Pharmaceuticals, Inc. to Present at The Neurotech Industry Investing & Partnering Conference
5. Alseres Pharmaceuticals to Host 2008 First Quarter Conference Call
6. Alseres Pharmaceuticals, Inc. Reports First Quarter 2008 Operational and Financial Results
7. Vista Partners Initiates Coverage on Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE)
8. Alseres Pharmaceuticals, Inc. Announces 2008 Annual Stockholders Meeting
9. Alseres Pharmaceuticals, Inc.s Chairman, Peter Savas, Reviews Companys Progress in its Annual Letter to Stockholders
10. Alseres Pharmaceuticals to Host 2008 Second Quarter Conference Call
11. Alseres Pharmaceuticals, Inc. Reports Second Quarter 2008 Operational and Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/23/2017)... , ... August 23, 2017 , ... Drs. Steven White ... in Cornelius, NC. By taking advantage of this offer, valued at more than ... regular six-month hygiene cleaning from the dentist, patients receive a complimentary professional whitening procedure. ...
(Date:8/23/2017)... ... August 23, 2017 , ... ... to prove the safety and efficacy of HBOT in treating and helping to ... US, points to research showing the similarities of the wounds to the brain ...
(Date:8/23/2017)... (PRWEB) , ... August 23, 2017 , ... The Stevie® Awards have announced the winners ... Awards , the world’s premier business awards competition. , Nominees in the 2017 IBAs were ... by a points system based on the total number of awards won in the IBAs ...
(Date:8/23/2017)... ... August 23, 2017 , ... PreCheck, Inc., a ... 2017 Inc. 5000 with a three-year sales growth of 49 percent . The ... comprises the most comprehensive look at America’s independent entrepreneurs. This represents PreCheck’s fifth ...
(Date:8/23/2017)... ... August 23, 2017 , ... Arizona Spine ... nationally that earned the designation of High Performing Hospitals by U.S. News & World ... indicates a hospital was significantly better than the national average in a given ...
Breaking Medicine News(10 mins):
(Date:8/7/2017)... 7, 2017 Zimmer Biomet Holdings, Inc. (NYSE and ... that its Board of Directors has approved the payment of ... of 2017. The cash ... about October 27, 2017 to stockholders of record as of ... of dividends are subject to approval of the Board of ...
(Date:8/7/2017)... Inc. (NYSE: DPLO), the nation,s largest independent specialty pharmacy, announced ... comparisons, unless otherwise noted, are to the quarter ended June ... Quarter 2017 Highlights include: Revenue of ... Total prescriptions dispensed of 220,000, compared to ... Gross profit per prescription dispensed of ...
(Date:8/4/2017)... -- The search for test results that can be ... long been the goal of healthcare providers and the ... largest meeting of lab professionals and IVD firms this ... Kalorama Information.  The firm said scores of companies with ... and software were at the American Association for Clinical ...
Breaking Medicine Technology: