Navigation Links
NeurogesX Announces Resignation of Bruce A. Peacock from Board of Directors
Date:7/17/2009

SAN MATEO, Calif., July 17 /PRNewswire-FirstCall/ -- NeurogesX, Inc. (Nasdaq: NGSX) announced today that Bruce A. Peacock has resigned from his roles as Audit Committee chairman and director to focus on his responsibilities as CEO of privately-held Alba Therapeutics.

Mr. Peacock commented, "While there is no opportune time to resign, I feel confident that NeurogesX is well positioned following the recent E.U. approval of Qutenza(TM) and the partnership with Astellas Pharma Europe Ltd. to commercialize Qutenza in Europe, and for the ongoing NDA review in the United States. In the wake of these accomplishments I am comfortable leaving NeurogesX while I focus more of my energies on Alba Therapeutics."

Tony DiTonno, NeurogesX CEO commented, "We would like to thank Bruce for all his contributions to NeurogesX during the initial regulatory approval and E.U. partnership discussions surrounding Qutenza. We are disappointed in his resignation but certainly understand the rationale and wish him well in his future endeavors."

Following Mr. Peacock's departure NeurogesX has received a Nasdaq Staff Deficiency Letter dated July 14, 2009 indicating that the company fails to comply with Nasdaq's audit committee composition requirements for continued listing as set forth in Listing Rule 5605(c)(2)(A), which requires that the company's Audit Committee be comprised of at least three members, each of whom are independent.

Consistent with Listing Rule 5605(c)(4)(B) the company has until the earlier of its next annual shareholders' meeting or June 29, 2010 to name a third director as a member of the Audit Committee so that the company regains compliance with the requirements of Listing Rule 5605(c)(2)(A).

An active search for Mr. Peacock's replacement is currently underway and NeurogesX expects to fill the vacancy created by his resignation within the timeframe required by the Nasdaq Listing Rules.

About NeurogesX, Inc.

NeurogesX (Nasdaq: NGSX) is a biopharmaceutical company focused on developing and commercializing novel pain management therapies. Its initial focus is on chronic peripheral neuropathic pain, including postherpetic neuralgia (PHN), painful HIV-distal sensory polyneuropathy (HIV-DSP) and painful diabetic neuropathy (PDN). NeurogesX' late stage product portfolio is led by its product candidate Qutenza, a dermal patch designed to manage pain associated with peripheral neuropathic pain conditions. Qutenza is currently approved in the European Union for the treatment of neuropathic pain in non-diabetic adults, either alone or in combination with other medicinal products for pain. NeurogesX submitted a new drug application (NDA) for PHN to the U.S. Food and Drug Administration (FDA) which was accepted for filing by the FDA in December 2008 and was given a Prescription Drug User Fee Act (PDUFA) date of August 16, 2009.

NeurogesX' second most advanced product candidate, NGX-1998, is a topically applied, liquid formulation containing a high concentration of capsaicin designed to treat pain associated with neuropathic pain conditions. NGX-1998 has completed three Phase 1 studies and NeurogesX is currently evaluating the timing of entering Phase 2 development.

NeurogesX' early stage product pipeline includes pre-clinical compounds, which are prodrugs of acetaminophen and various opioids. The company has evaluated these compounds in vitro and in vivo and is currently seeking development partners for these programs.

Safe Harbor Statement

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). NeurogesX disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such statements include, but are not limited to timing for locating and appointing a qualified candidate to fill the vacancy on the Board of Directors and Audit Committee; the timing and outcome of regulatory decisions and label approval being sought or that may be obtained with respect to the NDA for Qutenza with the FDA, including the PDUFA date for the NDA; timing for commercialization of Qutenza; and NeurogesX' plans and expected timing, with regard to seeking partnerships for its product candidates and entry into development programs. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to; positive results in clinical trials may not be sufficient to obtain FDA approval; the FDA may request additional clinical trials or other information prior to granting approval for Qutenza; any regulatory approvals which are received may be limited to certain indications; NeurogesX' product candidates may have unexpected adverse side effects or inadequate therapeutic efficacy; and other difficulties or delays in, clinical development of, and obtaining regulatory approval for NeurogesX' product candidates. For further information regarding these and other risks related to NeurogesX' business, investors should consult NeurogesX' filings with the Securities and Exchange Commission.

    NeurogesX, Inc.                     The Ruth Group
    Stephen Ghiglieri                   Sara Pellegrino (investors)
    Chief Financial Officer             (646) 536-7002
    (650) 358-3310                      spellegrino@theruthgroup.com

                                        Jason Rando / Janine McCargo (media)
                                        (646) 536-7025/7033
                                        jrando@theruthgroup.com
                                        jmccargo@theruthgroup.com


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

Related medicine news :

1. NeurogesX and Astellas Enter Commercialization Agreement for Qutenza(TM)
2. NeurogesX Reports Fourth Quarter and Year-End 2008 Results
3. NeurogesX to Present at the Seventh Annual Needham & Company Biotechnology and Medical Technology Conference
4. NeurogesX Reports Fourth Quarter and Year-End 2007 Financial Results
5. NeurogesX to Present at Susquehanna Financial Groups 2nd Annual SIGnificant Options in Healthcare Conference
6. NeurogesX to Present at RBC Capital Markets 2007 Healthcare Conference
7. NeurogesX to Report Third Quarter 2007 Financial Results on November 14, 2007
8. SXC Health Solutions announces contract with largest workers compensation organization in the U.S.
9. Masimo Announces Settlement of Lawsuit
10. NHP Announces Second Quarter Earnings Release Date and Webcast/Conference Call
11. JAG Media Holdings, Inc. Announces a Further Update of the Status of Its Acquisition of CardioGenics Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... February 05, 2016 , ... ... the company's lighter, sleeker next generation LYNX VR Indoor Trainer with multi-rider capability ... in design and manufacturing not only reduce the weight of the unit, they ...
(Date:2/5/2016)... ... February 05, 2016 , ... The event is being ... Block Event Center in Minneapolis, Minn. Triumph Over Parkinson’s will fund nearly $100,000 for ... of Schneiderman’s Furniture, lives with Parkinson’s disease and is the architect of this informative ...
(Date:2/5/2016)... , ... February 05, 2016 , ... Looking for a ... be at the tips of your toes. Foot massage, whether administered by a professional ... comfort and relaxation. The American Board of Multiple Specialties in Podiatry (ABMSP) ...
(Date:2/5/2016)... ... 05, 2016 , ... The Lymphoma Research Foundation (LRF) – ... serving the lymphoma community through a comprehensive series of education programs, outreach initiatives ... Tasting Event at the La Gorce Country Club in Miami Beach on March ...
(Date:2/5/2016)... ... 2016 , ... The American public tends to feel uncomfortable about drinking recycled ... municipal or well water. The recent experience with lead contaminated water in Flint, Michigan, ... way toward increasing public acceptance of recycled waste water as drinking water. , ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... , Feb. 5, 2016  Redwood Scientific Technologies, Inc. ... product designed to help women balance their hormones. This ... technology. Jason Cardiff , President and ... able to help the millions of women across the ... effects of imbalanced hormones. Our research and development team ...
(Date:2/5/2016)... Ontario , Feb. 5, 2016  Aralez Pharmaceuticals ... combination of POZEN Inc. ("POZEN") and Tribute Pharmaceuticals Canada Inc. ... POZEN and shareholders of Tribute. The combined company will ... pharmaceutical company with operations in Canada ... the United States . Under the terms of ...
(Date:2/5/2016)... -- Dehaier Medical Systems Ltd. (Nasdaq: DHRM ... markets and sells medical devices and wearable sleep ... and international markets, today announced its corporate and ... Company,s resources to develop its mobile health business, ... more on its major businesses. As of this ...
Breaking Medicine Technology: