Navigation Links
Osteotech Announces the Unexpected Passing of Audit Committee Member Leads to Receipt of Nasdaq Deficiency Letter
Date:5/2/2008

EATONTOWN, N.J., May 2 /PRNewswire-FirstCall/ -- Osteotech, Inc. (Nasdaq: OSTE) announces today that on April 28, 2008, it received a Nasdaq Staff Deficiency Letter in response to its notification to Nasdaq that Robert W. Gunn, an independent director and a member of the Board of Directors' Audit and Compensation Committees, passed away unexpectedly on April 22, 2008. As a result, Osteotech has only two independent directors serving on its Audit Committee and is not in compliance with the Audit Committee composition requirements for continued listing set forth in Nasdaq Marketplace Rule 4350(d)(2)(A). Pursuant to Nasdaq's letter, Osteotech has until October 20, 2008 to regain compliance with the Audit Committee composition requirements or it will be subject to delisting from the Nasdaq Stock Market. Osteotech was expecting the letter it received from Nasdaq and the Nominating and Corporate Governance Committee of the Board of Directors is currently seeking to identify a suitable candidate for appointment to the Board of Directors who will satisfy the Nasdaq Marketplace requirements for serving on the Audit Committee. Osteotech anticipates that it will be able to identify and appoint a suitable candidate prior to October 20, 2008.

Osteotech, Inc., headquartered in Eatontown, New Jersey, is a global leader in providing OsteoBiologic solutions for regenerative medicine to support surgeons and their patients in the repair of the musculoskeletal system through the development of innovative therapy-driven products that alleviate pain, promote biologic healing and restore function. For further information regarding Osteotech or this press release, please go to Osteotech's website at http://www.osteotech.com.

Certain statements made throughout this press release that are not historical facts contain forward-looking statements (as such are defined in the Private Securities Litigation Reform Act of 1995) regarding the Company's future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company's ability to develop and introduce new products, differences in anticipated and actual product and service introduction dates, the ultimate success of those products in the marketplace, the continued acceptance and growth of current products and services, the impact of competitive products and services, the availability of sufficient quantities of suitable donated tissue and the success of cost control and margin improvement efforts. Certain of these factors are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. All information in this press release is as of May 2, 2008 and the Company does not intend to update this information.


'/>"/>
SOURCE Osteotech, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Osteotech Engages BioHorizons as Exclusive Distributor to International Dental Market
2. Osteotech Signs Agreement To Distribute Harvest Technologies BMAC(TM) System
3. Osteotech Reports 2007 Third Quarter Financial Results; Core Segment Revenue Increased 28%; Gross Margin Improved to 55%; Diluted Earnings Per Share of $.09
4. Osteotech Announces Third Quarter Earnings Release and Conference Call Schedule
5. Osteotech Completes Tissue Supply Agreement With LifeNet Health
6. Osteotech to Present at First Albany Capitals Regenerative Technologies Conference in New York
7. Lifetime Television Proudly Announces October Marquee Event Original Movie, Living Proof Starring Emmy(R) and Grammy(R) Award Winner Harry Connick, Jr.
8. Hear Indiana Announces Talk*Walk*Run 2008
9. Parkview Christian Center Announces September 2008 Opening of Outreach Ministry Building
10. Thermage, a Leading Aesthetic Medical Device Company, Announces First Time Exhibitor Status at ACOG Meeting
11. AVEENO(R) Announces Sponsorship and Kick-Off of The Skin Cancer Foundations Road to Healthy Skin Tour Presented by AVEENO(R) and Rite Aid
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... , ... February 23, 2017 , ... Hamlin Dental Group ... that they are sponsoring a raffle. Throughout the month of February, patients who visit ... a gift card for a dinner for two at the Cheesecake Factory. , ...
(Date:2/23/2017)... , ... February 23, 2017 , ... Dr. David Mahon ... Henderson, NV 89052. Dr. Mahon was named a 2017 Top Patient Rated Henderson ... is an online directory that recognizes local physicians and dentists who have earned high ...
(Date:2/23/2017)... ... February 23, 2017 , ... Healthcare Research ... those in the fight against cancer, has produced a seminal study that asked ... will release top-line findings in a webinar, Defining Compassionate Care Through the Voices ...
(Date:2/23/2017)... ... February 23, 2017 , ... Top cosmetic and periodontal ... program today with a new Indiegogo campaign . Individuals are now able ... in the Los Angeles area, either as a participating patient or through an Indiegogo ...
(Date:2/23/2017)... (PRWEB) , ... February 23, 2017 , ... Carlos ... problems. He has also continued to spiritually evolve, which is the purpose of everyone ... “ Our Spiritual Truths ” (published by Balboa Press) attempts to guide readers to ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... , Feb 23, 2017 ... Research and Markets has announced the ... Industry Forecast to 2025" report to their offering. ... of around 1.8% over the next decade to reach approximately $12.8 billion ... estimates and forecasts for all the given segments on global as well ...
(Date:2/23/2017)... Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company ... and market advanced products and therapies for the Wound ... sectors of healthcare, today announced its record results for ... 2016. Full Year 2016 Highlights are: ... full year 2015 revenue ...
(Date:2/23/2017)... 23, 2017 Research and Markets has announced ... & Trends - Industry Forecast to 2025" report to their ... The ... CAGR of around 9.2% over the next decade to reach approximately ... market estimates and forecasts for all the given segments on global ...
Breaking Medicine Technology: