MCHM Macrochem (MM)

Company Continues Trading on Pink Sheets and Seeks to Move to OTC Bulletin Board LEXINGTON, Mass., Nov. 21 /PRNewswire-FirstCall/ -- MacroChem Corporation (NASDAQ:MCHM) today announced that it has withdrawn its appeal of a Nasdaq Staff Determination and that the Company's common stock will be delisted from quotation on the Nasdaq Capital Market effective as of Tuesday, November 22, 2005. The Company's shares are immediately eligible for trading on the "pink sheets" maintained by the National Quotation Bureau, Inc. Quotations for the Company's stock may be obtained at http://www.pinksheets.com/ under the same trading ticker symbol (MCHM). In addition, the Company will seek to have its common stock quoted on the Over-The-Counter Market on the NASD Electronic Bulletin Board (OTCBB). The OTCBB is a regulated quotation service that displays real-time quotes, last- sale prices and volume information in over-the-counter (OTC) equity securities. OTCBB securities are traded by a community of market makers that enter quotes and trade reports. Quotations and trading information can still be accessed via websites such as Yahoo! and other quotation services or through a securities broker. As previously announced, the Company had received a Nasdaq Staff Determination on October 18, 2005 indicating that the Company did not comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4) and that its securities were, therefore, subject to delisting from The Nasdaq Capital Market. The Nasdaq Staff Determination further indicated that the Staff had determined that MacroChem's securities were also subject to delisting from The Nasdaq Capital Market under Marketplace Rule 4300. About MacroChem MacroChem has two clinical-stage product candidates containing its patented enhancer, SEPA(R): Opterone(R), a topical cream for male testosterone deficiency, and EcoNail(TM), a SEPA-enhanced antifungal nail lacquer to treat a common and potentially debilitating nail infection known as onychomycosis. In addition, MacroChem has a portfolio of intellectual property and early- stage product candidates. Forward-Looking Statements With the exception of historical information contained in this press release, the matters described herein are forward-looking statements that involve risks and uncertainties. MacroChem's actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed or referred to in the section entitled "Risk Factors" in MacroChem's Annual Report on Form 10-K, as well as those discussed elsewhere therein, and include, without limitation, risks regarding product development, the timing and results of clinical trials, the regulatory approval process, capital requirements, financial condition, patent protection and dependence on third parties for development and licensing arrangements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. MacroChem undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: MacroChem Corporation CONTACT: Investor Contact: Bernard Patriacca, VP/CFO of MacroChem, +1-781-862-4003 Web site: http://www.macrochem.com/

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