American Stock Exchange Accepts ONI BioPharma Inc.'s Revised Plan of Compliance
25 Juni 2008 - 6:02PM
Marketwired
ALACHUA, FL , a biopharmaceutical company, today announced it
had received notice that the American Stock Exchange ("AMEX") has
accepted the Company's Revised Plan of Compliance to regain
compliance with the applicable listing standards by October 27,
2008.
As previously announced, on May 14, 2008, the Company received
notice from the AMEX Staff indicating that the Company is below
certain of the Exchange's continued listing standards due to the
Company's shareholders' equity of less than $4,000,000 and losses
from continuing operations and net losses in three of its four most
recent fiscal years. Subsequently, the Company submitted a revised
plan of compliance. On June 23, 2008, AMEX notified the Company
that it accepted the Company's Revised Plan of Compliance and that
the Company's extension to regain compliance with the continued
listing standards would remain October 27, 2008, at which time the
Company plans to be in full compliance with AMEX listing
requirements.
The Company will be subject to periodic review by Exchange Staff
during the extension period.
Stanley B. Stein, the Company's President and CEO, stated, "We
are tremendously pleased with AMEX's acceptance of our Revised Plan
of Compliance and look forward to a reinvigorated, healthy
relationship with AMEX. We intend to accelerate the
commercialization of our core technologies in conformity with our
Revised Plan, so that we will achieve and surpass relevant Exchange
standards in the future."
About ONI BioPharma Inc.
ONI BioPharma Inc. is a biopharmaceutical company with a
pipeline of unique proprietary technologies, some of which are
being commercialized. The Company also has a number of products in
discovery, preclinical and clinical development, with a
concentration in the main therapeutic area of infectious diseases,
diagnostics, and oral health. The Company has developed platform
technologies with respect to its products, thereby creating a
pipeline of future products, which the Company expects to
develop.
Safe Harbor Statement: Under the Private Securities Litigation
Reform Act of 1995: This release includes forward-looking
statements that reflect ONI BioPharma's current views with respect
to future events and financial performance. These forward-looking
statements are based on management's beliefs and assumptions and
information currently available. The words "believe," "expect,"
"anticipate," "intend," "estimate," "project" and similar
expressions that do not relate solely to historical matters
identify forward-looking statements. Investors should be cautious
in relying on forward-looking statements because they are subject
to a variety of risks, uncertainties, and other factors that could
cause actual results to differ materially from those expressed in
any such forward-looking statements. These factors include, but are
not limited to those set forth in our most recently filed annual
report on Form 10-KSB and quarterly report on Form 10-Q, and other
factors detailed from time to time in filings with the Securities
and Exchange Commission. We expressly disclaim any responsibility
to update forward-looking statements.
Contact: ONI BioPharma Inc. Stanley B. Stein 386-418-4018 X222
www.oragenics.com
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