Biodelivery Sciences International (MM) (NASDAQ:BDSIW)
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From May 2019 to May 2024
BioDelivery Sciences International, Inc. (NASDAQ: BDSI,
BDSIW) announced today that, effective September 15, 2005, Donald
Ferguson and Alan Pearce have resigned from the company's board of
directors. The resignations were undertaken so that BDSI could
maintain the independent director requirement for continued listing on
the Nasdaq Stock Market.
On September 15, 2005, the company received a written notification
from the staff of the Nasdaq Stock Market indicating the staff's view
that Mr. Ferguson is not "independent" under NASD Rule 4200(a)(15) and
that, therefore, BDSI's board of directors was not comprised of a
majority of independent directors as required by NASD Rule 4350(c)(1).
As a result of the staff's determination, Mr. Ferguson and Mr.
Pearce, who is not independent, have resigned from the board of
directors. BDSI's board of directors is now comprised on seven
members, four of whom are "independent" under NASD rules. BDSI has
notified the Nasdaq staff of this action and, as a result, the staff
has provided BDSI with a written notification that the company has
regained compliance with NASD rules and that this matter is closed.
The company also announced that in their respective resignation
letters to BDSI, both Mr. Ferguson and Mr. Pearce indicated that their
resignations did not result from any disagreement between them and
BDSI, its management or its board of directors.
BioDelivery Sciences International, Inc. is a specialty
biopharmaceutical company that is exploiting its licensed and patented
drug delivery technologies to develop and commercialize, either on its
own or in partnerships with third parties, clinically-significant new
formulations of proven therapeutics targeted at "acute" treatment
opportunities such as pain, anxiety, nausea and vomiting and
infections. The company's drug delivery technologies include: (i) the
patented Bioral(R) nanocochleate technology, designed for a
potentially broad base of applications, and (ii) the patented BEMA(TM)
(transmucosal or mouth) drug delivery technology. The company's
headquarters are located in Morrisville, North Carolina and its
principal laboratory is located in Newark, New Jersey.
Note: Except for the historical information contained herein, this
press release contains, among other things, certain forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, that involve risks and uncertainties. Such
statement may include, without limitation, statements with respect to
the Company's plans, objectives, expectations and intentions and other
statements identified by words such as "may," "could," "would,"
"should," "believes," "expects," "anticipates," "estimates,"
"intends," "plans" or similar expressions. These statements are based
upon the current beliefs and expectations of the Company's management
and are subject to significant risks and uncertainties, including
those detailed in the Company's filings with the Securities and
Exchange Commission. Actual results may differ from those set forth in
the forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company's
control).
L.G. Zangani, LLC provides financial public relations service to
the Company. As such L.G. Zangani, LLC and/or its officers, agents and
employees, receives remuneration for public relations and or other
services in the form of monies, capital stock in the Company, warrants
or options to purchase capital in the Company.