Cortex Receives Delisting Notification from NYSE Amex
09 Dicembre 2009 - 2:30PM
Business Wire
Cortex Pharmaceuticals, Inc. (NYSE Amex: COR) announced that it
has received notification from the NYSE Amex LLC indicating that,
due to the Company’s non-compliance with certain continued listing
standards as previously reported, the Exchange intends to delist
the Company’s common stock from the NYSE Amex effective as of the
close of business on Friday, December 11, 2009. Cortex appealed an
earlier delisting determination by the NYSE Amex, but was unable to
regain compliance within the allotted timeframe provided by the
Exchange.
Upon the Company’s delisting of its common stock from the NYSE
Amex, the Company believes that its securities will be eligible for
quotation on the OTC Bulletin Board. Cortex intends to continue to
comply with its Securities and Exchange Commission filing
obligations.
Cortex Pharmaceuticals, Inc.
Cortex, located in Irvine, California, is a neuroscience company
focused on novel drug therapies for treating psychiatric disorders,
neurological diseases and brain-mediated breathing disorders.
Cortex is pioneering a class of proprietary pharmaceuticals called
AMPAKINE® compounds, which act to increase the strength of signals
at connections between brain cells. The loss of these connections
is thought to be responsible for memory and behavior problems in
Alzheimer’s disease. Many psychiatric diseases, including
schizophrenia, occur as a result of imbalances in the brain’s
neurotransmitter system. These imbalances may be improved by using
the AMPAKINE technology. For additional information regarding
Cortex, please visit the Company’s website at
http://www.cortexpharm.com
Forward-Looking Statement
Note — this press release contains forward-looking statements
concerning the Company’s operating activities. Words such as
“believes,” “anticipates,” “plans,” “expects,” “indicates,” “will,”
“intends,” “potential,” “suggests,” “assuming,” “designed” and
similar expressions are intended to identify forward-looking
statements. These statements are based on the Company’s current
beliefs and expectations. The success of such activities depends on
a number of factors, including the risks that the FINRA may not
approve any market maker’s application to quote the Company’s
common stock on the OTC Bulletin Board. AMPAKINE compounds are
investigational drugs and have not been approved for the treatment
of any disease. Readers are cautioned not to place undue reliance
on these forward-looking statements that speak only as of the date
of this press release. The Company undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date of this press
release or to reflect the occurrence of unanticipated events.
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