Vasogen Regains Compliance with Nasdaq Minimum Bid Listing Requirement
02 5월 2007 - 11:04PM
PR Newswire (US)
TORONTO, May 2 /PRNewswire-FirstCall/ -- Vasogen Inc.
(NASDAQ:VSGND; TSX:VAS) today announced that it has received a
letter from The Nasdaq Stock Market, indicating that the Company
has regained compliance with the $1.00 per share minimum closing
bid price requirement for continued listing on the Nasdaq Capital
Market, pursuant to Nasdaq Marketplace Rule 4310(c)(4). In the
letter, Nasdaq advised the Company that this matter is now closed.
About Vasogen: Vasogen is a biotechnology company engaged in the
research and commercial development of therapies designed to target
the destructive inflammatory process associated with the
development and progression of cardiovascular and neurodegenerative
disorders. The Company's lead product, the Celacade(TM) technology,
is designed to activate the immune response to apoptosis - an
important physiological process that regulates inflammation.
Celacade is in late-stage clinical development for the treatment of
chronic heart failure and has received European regulatory approval
under the CE Mark for this indication. Vasogen is also developing a
new class of drugs for the treatment of certain neuro-inflammatory
disorders and is preparing to advance VP025, the lead drug
candidate from this new class, into phase II development. Certain
statements contained in this press release or elsewhere in our
public documents constitute "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and/or "forward-looking information" under the
Securities Act (Ontario). These statements may include, without
limitation, summary statements relating to results of the ACCLAIM
trial in patients with chronic heart failure, plans to advance the
development of Celacade(TM), plans to fund our current activities,
statements concerning our partnering activities and health
regulatory submissions, strategy, future operations, future
financial position, future revenues, projected costs, prospects,
plans and objectives of management. In some cases, you can identify
forward-looking statements by terminology such as "may", "will",
"should", "expects", "plans", "anticipates", "believes",
"estimated", "predicts", "potential", "continue", "intends",
"could", or the negative of such terms or other comparable
terminology. We made a number of assumptions in the preparation of
these forward-looking statements, including assumptions about the
nature, size and accessibility of the market for Celacade in the
treatment of chronic heart failure, particularly in Europe, the
regulatory approval process leading to commercialization and the
availability of capital on acceptable terms to pursue the
development of Celacade, and the feasibility of additional trials.
You should not place undue reliance on our forward-looking
statements which are subject to a multitude of risks and
uncertainties that could cause actual results, future circumstances
or events to differ materially from those projected in the
forward-looking statements. These risks include, but are not
limited to, the outcome of further analysis of the ACCLAIM trial
results, the requirement or election to conduct additional clinical
trials, delays or setbacks in the regulatory approval process,
securing and maintaining corporate alliances, the need for
additional capital and the effect of capital market conditions and
other factors on capital availability, the potential dilutive
effects of any financing, risks associated with the outcomes of our
preclinical and clinical research and development programs, the
adequacy, timing and results of our clinical trials, competition,
market acceptance of our products, the availability of government
and insurance reimbursements for our products, the strength of
intellectual property, reliance on subcontractors and key
personnel, losses due to fluctuations in the U.S.-Canadian exchange
rate, and other risks detailed from time to time in our public
disclosure documents or other filings with the Canadian and U.S.
securities commissions or other securities regulatory bodies.
Additional risks and uncertainties relating to our Company and our
business can be found in the "Risk Factors" section of our Annual
Information Form and Form 20-F for the year ended November 30,
2006, as well as in our later public filings. The forward-looking
statements are made as of the date hereof, and we disclaim any
intention and have no obligation or responsibility, except as
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Unless otherwise indicated, numerical values
indicating the statistical significance ("p-values") of results
included in this document are based on analyses that do not account
for endpoint multiplicity. DATASOURCE: Vasogen Inc. CONTACT: Glenn
Neumann, Investor Relations, 2505 Meadowvale Blvd., Mississauga,
ON, Canada L5N 5S2, tel: (905) 817-2004, fax: (905) 569-9231,
http://www.vasogen.com/,
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