Navigation Links
Memory Pharmaceuticals Receives NASDAQ Decisions

MONTVALE, N.J., Dec. 3 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced that, on December 3, 2008, the Company received notification from the NASDAQ Listing Qualifications Panel (the "Panel") that the Panel has determined to delist the Company's securities from The NASDAQ Capital Market. However, the Company was also notified today that the NASDAQ Listing and Hearing Review Council (the "Review Council") has called for review the Panel's December 3, 2008 decision and has determined to stay the Panel's decision pending further action by the Review Council. As a result, the Company's securities will continue to trade on The NASDAQ Capital Market pending further consideration of this matter by the Review Council.

As announced on October 31, 2008, the Company requested and was granted an extension by the Panel, through December 3, 2008, to comply with the minimum market capitalization requirement of $35 million or the alternative requirement of $2.5 million in stockholders' equity for continued listing on The NASDAQ Capital Market. On December 1, 2008, the Company requested an extension of the December 3, 2008 deadline to enable the Company and its merger partner, Roche, to fully pursue the parties' proposed merger transaction as announced on November 25, 2008. The Panel determined that it could not grant the Company's request, citing a lack of authority under the NASDAQ Marketplace Rules to grant the Company an extension beyond December 3, 2008.

The Review Council called the Company's matter for review in order to consider the Panel's decision. In its notification, the Review Council requested that the Company submit any additional information that the Company wishes the Review Council to consider in its review by December 29, 2008. There can be no assurance that, subsequent to completion of the Review Council's review, the Company's securities will continue to be listed on NASDAQ.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders, many of which exhibit significant impairment of memory and other cognitive functions, including Alzheimer's disease and schizophrenia. For additional information, please visit our website at

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Memory Pharmaceuticals' prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including the outcome of clinical trials of Memory Pharmaceuticals' drug candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with: the possibility that the Company's acquisition by Roche will not be completed, obtaining additional financing to support Memory Pharmaceuticals' R&D and clinical activities and operations; obtaining regulatory approvals to conduct clinical trials and to commercialize Memory Pharmaceuticals' drug candidates; Memory Pharmaceuticals' ability to enter into and maintain collaborations with third parties for its drug development programs; Memory Pharmaceuticals' dependence on its collaborations and its license relationships; achieving milestones under Memory Pharmaceuticals' collaborations; Memory Pharmaceuticals' dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers and consultants; protecting the intellectual property developed by or licensed to Memory Pharmaceuticals; and Memory Pharmaceuticals' ability to maintain listing on the Nasdaq Capital Market. These and other risks are described in greater detail in Memory Pharmaceuticals' filings with the Securities and Exchange Commission. Memory Pharmaceuticals may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Memory Pharmaceuticals disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

SOURCE Memory Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. New Alzheimers findings: High stress and genetic risk factor lead to increased memory decline
2. Removing Ovaries Before Menopause Leads to Memory, Movement Troubles
3. Boston University School of Medicine researcher recipient of Memory Ride Grant
4. New understanding of basic units of memory
5. Obesity Wont Affect Seniors Memory
6. HRT: A Boost for Libido, But Not Memory
7. Memory tasks require more coordinated brain blood flow for people with high blood pressure
8. Computerized training of working memory is a promising therapeutic strategy in ADHD
9. Alzheimers Foundation of America Holds Fifth Annual National Memory Screening Day
10. Survey Reveals Widespread Lack of Communication With Doctors About Memory Concerns
11. Memory Pharmaceuticals to Present at Upcoming Investor Conferences
Post Your Comments:
(Date:11/24/2015)... Chicago, IL (PRWEB) , ... November 24, 2015 ... ... list are national leaders when it comes to several aspects of orthopedic care. ... as joint replacements, orthopedic surgeries and general orthopedic care. , Becker's Hospital ...
(Date:11/24/2015)... ... 2015 , ... Brillouin Energy Corp. Congress and Government officials ... renewable energy technologies capable of producing commercially useful amounts of thermal energy (heat) ... and HHT™ Boiler System reactor core modules were presented to Congress on Capitol ...
(Date:11/24/2015)... VA (PRWEB) , ... November 24, 2015 , ... ... people across the United States to support their local poison centers through donations ... designated as #GivingTuesday: calls it “a day that inspires people to collaborate ...
(Date:11/24/2015)... ... November 24, 2015 , ... Aided by seed funding from the Ron ... designed to yield insights into how to detect and treat pancreatic cancer (PC). ... from small, non-coding RNA molecules (ncRNA), genetic material that is present in the blood ...
(Date:11/24/2015)... ... , ... Dr. Rodney E. Willey , has answered a new calling – to relieve ... provides treatment for snoring and sleep apnea through oral appliance therapy. He ... Disorders in the US, one of four in the Illinois area. , Dr. Willey’s ...
Breaking Medicine News(10 mins):
(Date:11/24/2015)... Nov. 24, 2015  Ascendant Solutions, Inc. (Pink Sheets: ... Board of Directors has declared a special 1 percent stock ... is payable December 14, 2015, to shareholders of record December ... of additional shares of common stock. ... is a strong endorsement of our confidence in Ascendant,s growth ...
(Date:11/24/2015)... , Nov. 24, 2015 Diplomat Pharmacy, Inc. ... Vice President of Clinical Services, Education and Human Resources will ... webinar, "Oral Oncology Drugs: Health Plan Strategies for a Dynamic ... Beckie Fenrick , a consultant with the Cambridge Advisory ... The webinar will discuss the ...
(Date:11/24/2015)... , November 24, 2015 st  Scientific ... North America (RSNA) taking place in Chicago ... Booth 1122, Hall A. --> st  Scientific Assembly and ... (RSNA) taking place in Chicago ... Hall A. --> Molecular Dynamics will present its revolutionary ...
Breaking Medicine Technology: