Immunicon (NASDAQ:IMMC)
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From Jun 2019 to Jun 2024
Immunicon Corporation (NASDAQ-CM:IMMC) announced today that, on April
18, 2008, it received a notice from The NASDAQ Stock Market indicating
that trading in Immunicon’s common stock will
be suspended and Immunicon’s common stock will
be delisted from The NASDAQ Capital Market at the opening of business on
April 29, 2008, unless Immunicon appeals NASDAQ’s
determination.
Immunicon had previously received notice from NASDAQ on April 2, 2008,
indicating that Immunicon was not in compliance with Marketplace Rule
4310(c)(3) because Immunicon failed to have the minimum of $2,500,000 in
stockholders’ equity required for continued
listing on The NASDAQ Capital Market. Immunicon was provided until April
17, 2008 to submit a specific plan to achieve and sustain compliance
with all applicable continued listing requirements of The NASDAQ Capital
Market. In response, on April 18, 2008, Immunicon notified NASDAQ that
it would not submit such a plan but rather would pursue quotation of its
common stock on the Over-the-Counter Bulletin Board.
As such, Immunicon does not intend to appeal NASDAQ’s
determination of the delisting date and is in the process of
transferring the quotation of its common stock to the Over-the-Counter
Bulletin Board. In that regard, Immunicon has been advised that a market
maker has filed the necessary application with the Financial Industry
Regulatory Authority to make a market in Immunicon’s
common stock on the Over-the-Counter Bulletin Board. It is Immunicon’s
expectation that its common stock will be eligible for quotation on the
Over-the-Counter Bulletin Board on the delisting date.
About Immunicon Corporation
Immunicon Corporation is developing and commercializing proprietary
cell- and molecular-based human diagnostic and life science research
products, and is providing certain analytical services to pharmaceutical
and biotechnology companies to assist them in developing new therapeutic
agents, with an initial focus on cancer disease management. Immunicon
has developed platform technologies to identify, count and characterize
a small number of rare cells in blood, such as circulating tumor cells
and circulating endothelial cells that are important in many diseases
and biological processes. Immunicon’s products
and underlying technology platforms also have application in cancer
research and may have applications in other fields of medicine, such as
cardiovascular and infectious diseases. For more information, please
visit www.immunicon.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are often preceded by words such as “hope,”
“may,” “believe,”
“anticipate,” “plan,”
“expect,” “intend,”
“assume,” “will”
and similar expressions. Forward-looking statements contained in this
press release include, among others, statements regarding the timing and
success of Immunicon’s plan to remove its
listing from The NASDAQ Capital Market and pursue a quotation of its
common stock on the Over-the-Counter Bulletin Board and other statements
not of historical fact. Immunicon cautions investors not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release, are based on the current expectations and
intent of the management of Immunicon and involve certain factors, such
as risks and uncertainties that may cause actual results to be far
different from those suggested by these statements. These statements are
not guarantees of future performance and involve risks and uncertainties
that are difficult to predict, including, but not limited to, risks and
uncertainties associated with: Immunicon’s
ability to continue as a going concern; Immunicon’s
dependence on Veridex, LLC, a Johnson & Johnson company; the risks and
uncertainties associated with the arbitration proceeding with Veridex
and the award in favor of Veridex given Immunicon’s
dependence on Veridex; the ability to earn license and milestone
payments under Immunicon’s agreement with
Veridex; Immunicon’s capital and financing
needs; research and development and clinical trial expenditures;
commercialization of product candidates; Immunicon’s
ability to obtain licenses from third parties to commercialize products;
Immunicon’s ability to manage its growth;
obtaining necessary regulatory approvals; reliance on third party
manufacturers and suppliers; reimbursement by third party payors to
Immunicon’s customers; compliance with
applicable manufacturing standards; retaining key personnel; delays in
the development of new products or planned improvements to products;
effectiveness of products compared to competitors’
products; protection of Immunicon’s
intellectual property; conflicts with third party intellectual property;
product liability lawsuits that may be brought against Immunicon; labor,
contract or technical difficulties; and competitive pressures in
Immunicon’s industry. These factors are
discussed in more detail in Immunicon’s
filings with the Securities and Exchange Commission. Except as required
by law, Immunicon accepts no responsibility for updating the information
contained in this press release beyond the published date, whether as a
result of new information, future events or otherwise, or for
modifications made to this document by Internet or wire services.
“Immunicon” and
the Immunicon Corporation logo are registered trademarks of Immunicon
Corporation. ALL RIGHTS RESERVED.