Memory Pharmaceuticals Granted Extension to Comply with NASDAQ Listing Requirements
31 Ottobre 2008 - 9:01PM
PR Newswire (US)
MONTVALE, N.J., Oct. 31 /PRNewswire-FirstCall/ -- Memory
Pharmaceuticals Corp. (NASDAQ:MEMY) today announced that the NASDAQ
Listing Qualifications Panel has granted the Company's request for
an extension until December 3, 2008 to comply with the NASDAQ
Capital Market minimum market capitalization requirement of $35
million or the alternative requirement of $2.5 million in
stockholders' equity in order to remain listed. There can be no
assurance that the Company will achieve compliance by the specified
deadline. About the Company Memory Pharmaceuticals Corp., a
biopharmaceutical company, is focused on developing innovative
drugs for the treatment of debilitating CNS disorders, many of
which exhibit significant impairment of memory and other cognitive
functions, including Alzheimer's disease and, schizophrenia. For
additional information, please visit our website at
http://www.memorypharma.com/. Safe Harbor Statement This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that are
subject to risks and uncertainties. All statements, other than
statements of historical facts, regarding management's
expectations, beliefs, goals, plans or Memory Pharmaceuticals'
prospects, future financial position, future revenues and projected
costs should be considered forward-looking. Readers are cautioned
that actual results may differ materially from projections or
estimates due to a variety of important factors, including the
outcome of clinical trials of Memory Pharmaceuticals' drug
candidates and whether they demonstrate these candidates' safety
and effectiveness; the risks and uncertainties associated with:
obtaining additional financing to support Memory Pharmaceuticals'
R&D and clinical activities and operations; obtaining
regulatory approvals to conduct clinical trials and to
commercialize Memory Pharmaceuticals' drug candidates; Memory
Pharmaceuticals' ability to enter into and maintain collaborations
with third parties for its drug development programs; Memory
Pharmaceuticals' dependence on its collaborations and its license
relationships; achieving milestones under Memory Pharmaceuticals'
collaborations; Memory Pharmaceuticals' dependence on preclinical
and clinical investigators, preclinical and clinical research
organizations, manufacturers and consultants; protecting the
intellectual property developed by or licensed to Memory
Pharmaceuticals; and Memory Pharmaceuticals' ability to maintain
listing on the Nasdaq Capital Market. These and other risks are
described in greater detail in Memory Pharmaceuticals' filings with
the Securities and Exchange Commission. Memory Pharmaceuticals may
not actually achieve the goals or plans described in its
forward-looking statements, and investors should not place undue
reliance on these statements. Memory Pharmaceuticals disclaims any
intent or obligation to update any forward-looking statements as a
result of developments occurring after the date of this press
release. DATASOURCE: Memory Pharmaceuticals Corp. CONTACT: Jzaneen
Lalani, General Counsel, +1-201-802-7249 or Laura Perry, LMP
Investor Relations Inc., +1-646-719-1055, both for Memory
Pharmaceuticals Corp. Web Site: http://www.memorypharma.com/
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