Adherex Files to Delist From the AMEX
10 January 2009 - 12:00AM
Marketwired
Adherex Technologies Inc. (TSX: AHX) (AMEX: ADH), a
biopharmaceutical company dedicated to solving problems for
patients with cancer, today announced that the Company has filed to
voluntarily delist its common stock from the NYSE Alternext US LLC
(formerly, the American Stock Exchange or "AMEX"). After receiving
a notice from AMEX indicating that the Company failed to meet
certain of the AMEX continued listing requirements, as previously
announced by the Company on December 10, 2008, the Company's Board
of Directors elected not to submit a plan of compliance and
voluntarily file for delisting.
To effect the delisting, the Company intends to file with the
Securities and Exchange Commission a Form 25, Notification of
Removal from Listing and/or Registration, on or about January 19,
2009. The Company expects that trading of its shares on the AMEX
will be terminated on or about January 29, 2009. Until the AMEX
delisting becomes effective on or about January 29, 2009, the
Company's common stock will continue to trade on the AMEX under the
symbol "ADH". The Company's stock listing will be noted with ".BC"
after its trading symbol to reflect its non-compliance with the
AMEX listing requirements. The Company's common stock continues to
trade under the symbol "AHX" on the Toronto Stock Exchange.
About Adherex Technologies
Adherex Technologies Inc. is a biopharmaceutical company
dedicated to the discovery and development of novel cancer
therapeutics. We are in the business of solving problems for
patients with cancer. We have multiple products in the clinical
stage of development, including eniluracil, ADH-1 and sodium
thiosulfate (STS). Eniluracil, an oral dihydropyrimidine
dehydrogenase (DPD) inhibitor, is being developed to improve the
tolerability and effectiveness of 5-fluorouracil (5-FU), one of the
most widely used oncology drugs in the world. ADH-1 is a
biotechnology compound which selectively targets N-cadherin, a
protein present on certain tumor cells and the blood vessels of
solid tumors. STS is a chemoprotectant being developed to reduce or
prevent hearing loss that may result from treatment with
platinum-based chemotherapy drugs. With a diversified portfolio of
unique preclinical and clinical-stage cancer compounds and a
management team with expertise in identifying, developing and
commercializing novel cancer therapeutics, Adherex aims to become a
leader in developing innovative treatments that address important
unmet medical needs in cancer. For more information, please visit
our website at www.adherex.com.
This press release contains forward-looking statements that
involve significant risks and uncertainties. The actual results,
performance or achievements of the Company might differ materially
from the results, performance or achievements of the Company
expressed or implied by such forward-looking statements. We are
subject to various risks, including the adverse impact of our stock
no longer being listed on the AMEX, our need for additional capital
to fund our operations, our history of losses, current and
anticipated conditions in the economy and financial markets, our
ability to continue to meet the listing requirements of the Toronto
Stock Exchange, the uncertainties of clinical trials, drug
development and regulatory review, the early stage of our product
candidates, our reliance on collaborative partners, and other risks
inherent to the biopharmaceutical industry. For a more detailed
discussion of related risk factors, please refer to our public
filings available at www.sedar.com and www.sec.gov.
Contacts: Adherex Technologies Inc. D. Scott Murray Senior Vice
President, Corporate Development 919-484-8484 info@adherex.com
Adherex (AMEX:ADH)
Historical Stock Chart
From Apr 2024 to May 2024
Adherex (AMEX:ADH)
Historical Stock Chart
From May 2023 to May 2024