AtheroGenics Receives Delisting Notice From NASDAQ Global Market Due to Chapter 11 Filing
October 10 2008 - 5:15PM
Marketwired
AtheroGenics, Inc. (NASDAQ: AGIX) today reported that it received
notification from the Nasdaq Stock Market indicating that the staff
of the Nasdaq Stock Market had determined, in accordance with
NASDAQ Marketplace Rules 4300, 4450(f) and IM-4300, that the
Company's common stock should be delisted from the Nasdaq Global
Market in light of the Company's filing under Chapter 11 of the
United States Bankruptcy Code. Trading in the Company's common
stock on the Nasdaq Global Market will be suspended at the opening
of business on October 14, 2008. The Company expects that its
common stock will continue to trade on the over-the-counter market
or the Pink Sheets.
About AtheroGenics
AtheroGenics is focused on the discovery, development and
commercialization of potential drug candidates for the treatment of
chronic inflammatory diseases, including diabetes and coronary
heart disease (atherosclerosis). The Company's lead antioxidant and
anti-inflammatory drug candidate, AGI-1067, is being developed for
the treatment of Type 2 diabetes. In addition, the Company has
other clinical and preclinical anti-inflammatory compounds,
including AGI-1096, an oral agent for the prevention of organ
transplant rejection. For more information about AtheroGenics,
please visit http://www.atherogenics.com.
Disclosure Regarding Forward-Looking Statements
Statements contained in this press release that relate to events
or developments that we expect or anticipate will occur in the
future are deemed to be forward-looking statements, and can be
identified by words such as "believes," "intends," "expects" and
similar expressions. AtheroGenics cautions investors not to place
undue reliance on the forward-looking statements contained in this
release. Examples of forward looking statements include our
expectation that the Company's common stock will continue to trade
on the over-the-counter market or the Pink Sheets. This and other
such statements are subject to certain factors, risks and
uncertainties that may cause actual results, events and
performances to differ materially from those referred to in such
statements. These risks include: additional information relating to
the safety, efficacy or tolerability of AGI-1067 may be discovered
upon further analysis of trial data; the U.S. Food and Drug
Administration might not allow us to conduct further studies of the
efficacy of AGI-1067 for the same or new endpoints, and, to the
extent approved, additional clinical trial work may take a
significant period of time to complete or require significant
additional resources to complete; and we cannot ensure that
AGI-1067 will ever be approved or be proven safe and effective for
use in humans. These and other risks are discussed in AtheroGenics'
Securities and Exchange Commission filings, including, but not
limited to, the risks discussed in AtheroGenics' Annual Report on
Form 10-K for the fiscal year ended December 31, 2007 and Quarterly
Report on Form 10-Q for the quarter ended June 30, 2008, which are
specifically incorporated by reference into this press release. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
CONTACTS: AtheroGenics, Inc. Mark P. Colonnese Executive Vice
President 678-336-2511 investor@atherogenics.com Media Inquiries
Jayme Maniatis / Dana Conti Schwartz Communications, Inc.
781-684-0770 atherogenics@schwartz-pr.com Investor Inquiries Lilian
Stern Stern Investor Relations, Inc. 212-362-1200
lilian@sternir.com
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