Navigation Links
Nephros Receives Notice of Intention to Delist from AMEX
Date:1/14/2009

RIVER EDGE, N.J., Jan. 14 /PRNewswire-FirstCall/ -- Nephros, Inc. (Amex: NEP), a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, today announced that it has received notice from the NYSE Alternext US LLC (formerly, the American Stock Exchange or "AMEX" or the "Exchange"), regarding AMEX's intention to delist the Company's common stock due to noncompliance with certain continued listing standards.

The Company previously received a letter from AMEX dated September 12, 2008 notifying it of noncompliance with certain continued listing standards. In response to that letter, the Company submitted a plan of compliance to the AMEX on October 13, 2008 advising AMEX of the actions the Company has taken, or will take, that would bring it into compliance with the continued listing standard identified above by April 30, 2009.

On January 8, 2009, the Company received a letter from AMEX notifying the Company that it was rejecting the plan. The letter further notified the Company that it is in noncompliance with the Exchange's Company Guide Section 1003(a)(iii), which states AMEX will normally consider suspending dealings in, or removing from the list, securities of an issuer which has stockholders' equity of less than $6,000,000 if such issuer has sustained net losses in its five most recent fiscal years. The letter also said that the Company was in noncompliance with Company Guide Section 1003(a)(ii), which states AMEX will normally consider suspending dealings in, or removing from the list, securities of an issuer which has stockholders' equity of less than $4,000,000 if such issuer has sustained net losses in its three of its four most recent fiscal years. Finally, the letter also said that the Company was in noncompliance with Company Guide Section 1003(f)(v), which states AMEX will normally consider suspending dealings in, or removing from the list, common stock that sells for a substantial period of time at a low price per share.

AMEX further notified the Company that the Exchange intends to strike the common stock from AMEX by filing a delisting application with the Securities and Exchange Commission pursuant to Rule 1009(d) of the Exchange's Company Guide.

Given the turmoil in the capital markets, the Company has decided to not seek an appeal of AMEX's intention to delist our common stock. The Company has identified a market maker who has agreed to apply for the registration and quotation of our common stock on the OTC Bulletin Board, which we would expect to be effective immediately after the delisting from AMEX.

It is expected that the delisting of the common stock from AMEX would be effective in the first half of February 2009.

About Nephros, Inc.

Nephros, Inc., headquartered in New Jersey, is a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification.

The Nephros hemodiafiltration ("HDF") system is designed to improve the quality of life for the End-Stage Renal Disease (ESRD) patient while addressing the critical financial and clinical needs of the care provider. ESRD is a disease state characterized by the irreversible loss of kidney function. The Nephros HDF system removes a range of harmful substances more effectively, and with greater capacity, than existing ESRD treatment methods, particularly with respect to substances known collectively as "middle molecules." These molecules have been found to contribute to such conditions as dialysis-related amyloidosis, carpal tunnel syndrome, degenerative bone disease and, ultimately, mortality in the ESRD patient. Nephros ESRD products are sold and distributed throughout Europe and are currently being used in over fifty clinics in Europe.

The Nephros Dual Stage Ultrafilter (DSU) is the basis for Nephros's line of water filtration products. The patented dual stage cold sterilization ultrafilter has the capability to filter out bacteria and, due to its exceptional filtration levels, filter out many viruses, parasites and biotoxins. The DSU is in pilot-use programs at several major U.S. medical centers for infection control and has been selected for further development by the U.S. Marine Corps for purification of drinking water by soldiers in the field.

For more information on Nephros, please visit its website at http://www.nephros.com/.

Forward-Looking Statements

Statements in this news release that are not historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Such statements may be preceded by words such as "may," "plans," "expects," "believes," "hopes," "potential" or similar words. For such statements, Nephros claims the protection of the PSLRA.

Forward-looking statements are not guarantees of future performance, are based on assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Nephros's control. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that Nephros may not be able: (i) to maintain compliance with the AMEX's continued listing standards; (ii) to obtain funding if and when needed or on favorable terms; (iii) to continue as a going concern; (iv) to demonstrate in pre-clinical or clinical trials the anticipated efficacy, safety or cost savings of products that appeared promising to Nephros in research or clinical trials; (v) to obtain appropriate or necessary governmental approvals to achieve its business plan or effectively market its products; (vi) to have its technologies and products accepted in current or future target markets; or (viii) to secure or enforce adequate legal protection, including patent protection, for its products. More detailed information about Nephros and the risk factors that may affect the realization of forward-looking statements is set forth in Nephros's filings with the SEC, including Nephros's Annual Report on Form 10-KSB filed with the SEC for the fiscal year ended December 31, 2007, and Nephros's Quarterly Report on Form 10-Q for the periods ended September 30, 2008. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov/. Nephros does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.


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

Related medicine news :

1. Nephros Strengthens Commercialization Team with Addition of Marketing Executive
2. Nephros Exhibits at the XLV ERA-EDTA Congress in Stockholm, Sweden, May 10-13, 2008
3. Nephros Reports 2008 First Quarter Financial Results
4. Nephros Exhibiting at Denver, Colorado APIC Conference June 15th-19th
5. Nephros, Inc. Receives the 2009 Frost & Sullivan Medical Device Patient Care Company of the Year Award
6. Lake Elsinore Family Caregiver Receives Free Power Wheelchair From The SCOOTER Store
7. DaVita Receives Civil Complaint
8. Ranbaxy Receives Tentative Approval to Manufacture and Market Galantamine Tablets on an Exclusive Basis
9. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
10. Edwards Lifesciences Receives CE Mark for Edwards SAPIEN Transcatheter Heart Valve
11. PainCare Receives $14.4 Million in Cash From Completed Sale of South Florida Ambulatory Surgery Centers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... February 08, 2016 , ... Coast Dental has a new way to help ... Month and family dentist Yvonne Dorrian, DMD, is hosting a free seminar on Friday, ... next to Target at 1207 North Peachtree Parkway in Peachtree City. Dr. Dorrian will ...
(Date:2/8/2016)... ... ... who has struggled to quit smoking, a man who has struggled with hair loss – ... his problems – and he did. Now Nabat, a serial entrepreneur featured as the October ... to the world and better people's lives. His own experience with nicotine addiction led to ...
(Date:2/8/2016)... ... February 08, 2016 , ... Tingley Rubber Corporation , ... provide its range of unique and advantaged protective solutions to a growing ... provide bilingual customer service and marketing support. A new distribution center in Brampton, ...
(Date:2/8/2016)... ... 08, 2016 , ... Local insurance agency Dennis Fuller & ... has initiated a fundraiser for a two year old little girl named Bella, ... To support this beautiful child who is facing life’s journey without her loving ...
(Date:2/8/2016)... ... , ... Remember the old saying “rub some dirt on it”? Perhaps you ... “Calcium Bentonite Clay” the health benefits of integrating clay into a daily diet are ... A former motivational speaker, Perry A~ has since dedicated her life to learning about ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... , Feb. 8, 2016  Ventana Medical ... that hundreds of the world,s top oncologists, pathologists, ... at the 12 th annual Tucson Symposium ... evolving theories and new outcomes in cancer research ... patients, lives. Thomas Grogan , annually ...
(Date:2/8/2016)... 2016 Nueterra, the nation,s largest ... the development of equity partnerships and focused ... divided its interests between two new companies—NueHealth ... continue the founding company,s private equity investment ... national system of integrated provider networks that ...
(Date:2/8/2016)... , Feb. 8, 2016 ... "Knee Reconstruction Devices Market by Product Type ... and Geography (U.S., Canada, Eu-5, Japan, Bric, Turkey, ... report to their offering. --> ... the "Knee Reconstruction Devices Market by Product ...
Breaking Medicine Technology: