Navigation Links
Nile Therapeutics Receives NASDAQ Notice; Will Request Hearing
Date:12/3/2010

SAN MATEO, Calif., Dec. 3, 2010 /PRNewswire/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), a company focused on the development of novel therapeutics for heart failure patients, today announced that, as anticipated, on November 30, 2010, the Company received a letter from the Listing Qualifications Staff (the "Staff") of The NASDAQ Stock Market (the "Staff Determination") notifying the Company that, based on its failure to regain compliance with the $1.00 minimum bid price requirement, as set forth in NASDAQ Listing Rule 5550(a)(2), the Company's common stock would be subject to delisting from The NASDAQ Capital Market unless the Company requests a hearing before the NASDAQ Listing Qualifications Panel (the "Panel").

The Company intends to request a hearing before the Panel, which will stay any action with respect to the Staff Determination until the Panel renders a decision subsequent to the hearing.  There can be no assurance that following the hearing the Panel will grant the Company's request for continued listing on The NASDAQ Capital Market.

The Staff Determination follows a notification from the Staff dated June 1, 2010, which was disclosed by the Company on June 4, 2010, indicating that the minimum bid price of the Company's common stock had been below $1.00 per share for 30 consecutive business days and that the Company had 180 calendar days, or until November 29, 2010, to regain compliance with the minimum bid price requirement.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at http://www.nilethera.com.

Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Nile's ability to remain listed on the NASDAQ Capital Market, or the timing, progress and anticipated results of the clinical development, regulatory processes, clinical trial timelines, expected patient enrollment, anticipated benefits of CD-NP, Nile's strategy, future operations, outlook, milestones, the timing and success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's need to raise additional capital to fund its product development programs to completion, Nile's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in greater detail in the reports Nile files with Securities and Exchange Commission, including those described under the caption "Risk Factors" in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2009 filed with the Securities and Exchange Commission on March 3, 2010. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.


'/>"/>
SOURCE Nile Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Halozyme Therapeutics Realigns Management
2. Cell Therapeutics Files Appeal on FDA Decision on New Drug Application (NDA) for Pixantrone to Treat Relapsed/Refractory Aggressive Non-Hodgkins Lymphoma
3. The European Medicines Agency Validates and Accepts Cell Therapeutics Marketing Authorization Application for Pixuvri™
4. Nile Therapeutics Reports 2010 Third Quarter Financial Results
5. Ardea Announces Data on MEK Inhibitor BAY 86-9766 (RDEA119) to be Presented at EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics
6. ImmunGenes Pipeline of Next Generation Cancer Therapeutics Featured in BioWorld Today
7. Argos Therapeutics to Present Potential of its Arcelis™ Immunotherapy as an Innovative, Effective Treatment for HIV at the APHA 138th Annual Meeting & Exposition
8. Amicus Therapeutics Announces Third Quarter 2010 Financial Results
9. Mederi Therapeutics Announces Receipt of CE Mark for its Second Generation Secca® and Stretta® Systems
10. Pervasis Therapeutics Awarded Four Grants Under the Qualifying Therapeutic Discovery Project
11. Nektar Therapeutics Reports Third Quarter 2010 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... Cardiovascular Surgery Devices - Medical Devices Pipeline Assessment, ... report, "Cardiovascular Surgery Devices - Medical Devices Pipeline ... Devices currently in pipeline stage. ... comprehensive information on the pipeline products with comparative ... development. The report reviews major players involved in ...
(Date:2/8/2016)... 2016  Labvantage Lx, a newcomer to the ... sexual enhancement product, EnduramenT. Setting a new standard ... a patented biomedical breakthrough molecule that promotes the ... responsible for many biological functions including erectile function. ... Forgoing the use of prescription medications, scientists working ...
(Date:2/8/2016)... TOKYO and FAIRFIELD, N.J. ... (Otsuka) and Medimetriks Pharmaceuticals, Inc. (Medimetriks) today announced that ... exclusive development and commercialization rights for OPA-15406 in the ... agreement also provides manufacturing rights.  OPA-15406 is a topical, ... for atopic dermatitis. --> ...
Breaking Medicine Technology:
(Date:2/8/2016)... ... 2016 , ... Stephanie Hebert Insurance Agency, serving families of ... charity campaign. As part of their ongoing community involvement program, funds are now ... children deserve a voice, and in the spirit of neighbors helping neighbors in ...
(Date:2/8/2016)... , ... February 08, 2016 , ... A man who has struggled to quit smoking, ... Laser Therapy , was determined to find solutions to his problems – and he did. ... Digest is ready to introduce his breakthrough inventions to the world and better people's ...
(Date:2/8/2016)... York, NY (PRWEB) , ... February 08, 2016 , ... ... are too much to handle, you are not alone. According to the Center for ... include heart disease, stroke, type 2 diabetes and certain types of cancer, some of ...
(Date:2/8/2016)... Hilton Head Island, SC (PRWEB) , ... February 08, 2016 , ... ... Head and surrounding areas with a vital new community enrichment program, has teamed up ... to local women and children suffering from intimate abuse. To support all those victimized ...
(Date:2/8/2016)... ... February 08, 2016 , ... Local ... the greater Venice, FL area, has initiated a fundraiser for a two year ... just four days after Christmas. To support this beautiful child who is facing ...
Breaking Medicine News(10 mins):