Navigation Links
IDM Pharma Receives Nasdaq Shareholder Equity Notification
Date:4/13/2009

IRVINE, Calif., April 13 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI), a company focused on the development of innovative cancer products, including MEPACT(R) (mifamurtide), which was recently approved in Europe for the treatment of osteosarcoma, today announced receipt of a letter from the Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") informing the Company that it does not comply with the requirement to maintain a minimum of $10 million in stockholders' equity for continued listing on the Nasdaq Global Market.

IDM has until April 23, 2009 to provide Nasdaq a specific plan to achieve and sustain compliance with all Nasdaq Global Market listing requirements. If Nasdaq accepts the Company's plan, the Company may be granted a period of up to 105 days within which it can regain compliance with such listing requirements. The Company is currently evaluating options including submission of a compliance plan with Nasdaq, application to transfer to the Nasdaq Capital Market, or a parallel approach. There can be no assurance that such compliance plan will be sufficient to avoid delisting or that such application to transfer to the Nasdaq Capital Market will be approved.

As previously disclosed, IDM has engaged JMP Securities, LLC, an investment bank, to advise the Company in exploring available strategic alternatives, including possible merger or acquisition opportunities.

About IDM Pharma

IDM Pharma is focused on the development of innovative cancer products that either destroy cancer cells by activating the immune system or prevent tumor recurrence by triggering a specific adaptive immune response. IDM Pharma is dedicated to maximizing the full therapeutic and commercial potential of each of its innovative products to address the needs of patients and the physicians who treat these patients.

For more information about the company and its products, visit www.idm-pharma.com.

Forward-Looking Statements

This press release includes forward-looking statements that reflect management's current views of future events including statements about the timing of and the Company's ability to present an acceptable plan to achieve and sustain compliance with applicable Nasdaq Global Market continued listing requirements, the Company's ability to meet the Nasdaq's listing criteria for the Nasdaq Capital Market as set forth in Marketplace Rule 4310, and whether the Company will seek to transfer to the Nasdaq Capital Market or to appeal the Nasdaq staff's determination and request an oral hearing before a Nasdaq listing qualifications panel. Actual results may differ materially from the forward-looking statements due to a number of important factors, including, but not limited to, the Company's ability to comply with Nasdaq's listing requirements, Nasdaq's agreement with the Company's plans and/or assessments with respect to such compliance, whether the Company will seek to transfer to the Nasdaq Capital Market, whether the Company elects to secure sales and marketing infrastructure for MEPACT in the EU, whether the Company seeks and will be able to complete any potential strategic transaction on terms acceptable to the Company's stockholders, how the volatile economic environment will affect the Company's efforts to complete a strategic transaction or raise additional capital, and whether the cash resources of the Company will be sufficient to fund operations as planned. These and other risks affecting the Company and its drug development programs, intellectual property rights, personnel and business are more fully discussed in the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and other filings made with the SEC. The Company expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.


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

Related medicine news :

1. Amylin Pharmaceuticals to Webcast First Quarter Results
2. MonoSol Rx and Strativa Pharmaceuticals Submit New Drug Application for Ondansetron Orally Dissolving Film Strip
3. AUDIO from Medialink and Forest Pharmaceuticals: FDA Approves Lexapro for Major Depressive Disorder in Adolescents
4. Cordex Pharma to Collaborate with BG Medicine in a Clinical Study of Heart Failure Biomarkers
5. Sigma-Tau Pharmaceuticals and Danisco BioActives Announce Partnership Agreement to Develop Drug Candidate for Prevention of Necrotizing Enterocolitis
6. Avineuro Pharmaceuticals, Inc. Announces Beginning of Phase I Clinical Studies of AVN-101, Potent Small Molecule for Treatment of Alzheimers Disease.
7. ULURU Inc. Signs Offer Letter to Acquire York Pharma plc
8. N30 Pharma Forms Scientific Advisory Board
9. CVS Caremark Discusses Role of Health IT to Optimize Pharmacy Health Care
10. CVS Caremark Extends Google Health Partnership Enabling CVS/pharmacy Customers to Add Prescription Information to Personal Health Records
11. Enrollment in Employer-Contracted Pharmacy Benefit Carve-Out Increased by More than Six Million Lives
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... ... 2016 , ... On Tuesday, April 26, 2016 members of the HomeTown Health ... Gov. Nathan Deal on SB 258, the “Rural Health Care Relief” Bill. , The ... tax credit to individuals and corporations which donate directly to a “rural hospital” in ...
(Date:4/29/2016)... ... April 29, 2016 , ... Coast Dental Fort Stewart is celebrating ... new location in the Exchange Furniture Mall at 112 Vilseck Road in Fort Stewart. ... Smart TV. Plus attendees will have the opportunity to meet general dentists Thomas Richards, ...
(Date:4/29/2016)... NY (PRWEB) , ... April 29, 2016 , ... ... and engineer of patented products, announces the Gyrociser, an exercise invention which aids ... worth $2 billion," says Scott Cooper, CEO and Creative Director of World Patent ...
(Date:4/29/2016)... ... April 29, 2016 , ... Reltok Nasal Products proudly ... for the head and neck/ear, nose and throat specialty, has added the KOTLER NASAL ... KOTLER NASAL AIRWAY™ is a newly patented safety device secured by nasal surgeons ...
(Date:4/29/2016)... ... April 29, 2016 , ... ... enterprise focused entirely on patients with cancer, today announced that Lynne Malestic, RN, ... the 2016 CURE® Extraordinary Healer® for Oncology Nursing , which honors nurses ...
Breaking Medicine News(10 mins):
(Date:4/29/2016)... , April 29, 2016  In the ... projected to shift from systems dependent on CRTs monitors ... types of modality CRT Medical monitors and will ... are a host of foreseeable benefits to this ... will existing modalities have to be replaced in ...
(Date:4/29/2016)... ReportsnReports.com adds "Pulmonary Arterial ... report that provides an overview of the PAH ... stages, therapeutics assessment by drug target, mechanism of ... type, along with latest updates, and featured news ... involved in the therapeutic development for Pulmonary Arterial ...
(Date:4/29/2016)... Jersey , April 29, 2016 ... Suite for Life Sciences, Product Development Capabilities in ... Life Science Customer Base . ... provider, today announced the acquisition of Skura Corporation,s ... global leader in adaptive sales enablement technology for ...
Breaking Medicine Technology: