posted
i THINK THEY have something to back this appeal ......have the share price jump over a $1 within 35 days
GlycoGenesys, Inc. Requests Hearing to Appeal Nasdaq Staff Determination
By BusinessWire Last Update: 1/4/2006 2:00:02 PM Data provided by
BOSTON, Jan 04, 2006 (BUSINESS WIRE) -- GlycoGenesys, Inc. (GLGS), a biotechnology company, today announced that it requested a hearing before a Nasdaq Listing Qualifications Panel to appeal the Nasdaq Staff Determination received on December 28, 2005. The Nasdaq Staff Determination Letter indicated that the Company fails to comply with the requirements for continued listing set forth in Nasdaq Marketplace Rule 4310(c)(2)(b), and that its securities are, therefore, subject to delisting from the Nasdaq Capital Market. This appeal stays the delisting of the Company's common stock pending the decision of a Nasdaq Listing Qualifications Panel, which generally hears appeals within 45 days of request. There can be no assurance that the Listing Qualifications Panel would grant the Company's request for continued listing.
About GlycoGenesys, Inc.
GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is completing a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts, Roswell Park Cancer Institute in Buffalo, New York and Emory's Winship Cancer Institute in Atlanta, Georgia. Further clinical trials are planned 2006. Further information is available on GlycoGenesys' web site: www.glycogenesys.com.
-------------------- EVERY Day ABOVE GROUND is a GREAT DAY!!! Posts: 2086 | From: Long Island New York | Registered: Aug 2004
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