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CuraGen Corporation Regains NASDAQ Listing Compliance
Date:5/29/2008

BRANFORD, Conn., May 29 /PRNewswire-FirstCall/ -- CuraGen Corporation (Nasdaq: CRGN) today announced that it had received notification from The NASDAQ Stock Market that the Company has regained compliance with the requirements for continued listing on the NASDAQ Global Market, and that this matter is now closed.

In a letter dated January 28, 2008, NASDAQ had previously informed the Company that CuraGen had until July 28, 2008 to regain compliance with Marketplace Rule 4450(a)(5) by maintaining a closing bid price of $1.00 per share or higher for at least 10 consecutive business days.

"We are pleased with this decision by NASDAQ. Since receiving the initial communication from NASDAQ in late January, we have successfully advanced our lead clinical program CR011-vcMMAE into Phase II development, completed the sale of our interest in belinostat for approximately $38 million in cash thus far, removed $50.9 million in debt from our balance sheet, and announced a reduction in our burn rate guidance for the balance of the year. We believe these actions have generated value and contributed to the restoration of our full NASDAQ compliance, and we thank our shareholders who have shown confidence in CuraGen during this notification period," stated Dr. Timothy Shannon, President and Chief Executive Officer of CuraGen.

About CuraGen

CuraGen Corporation (Nasdaq: CRGN) is a clinical-stage biopharmaceutical company developing promising approaches for the treatment of cancer. CuraGen Corporation is headquart
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SOURCE CuraGen Corporation
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