North American Scientific (MM) (NASDAQ:NASM)
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North American Scientific, Inc. (NASDAQ:NASM) today announced that,
pursuant to Shareholder approval at its Annual Meeting on April 29,
2008, the Company filed an amendment to its Amended Certificate of
Incorporation that implements a 1 share for 5 share reverse stock split
of the Company’s outstanding common stock. The
reverse stock split will become effective for shareholders of record at
12:00 am on May 1, 2008. As a result of the reverse stock split, each
five shares of common stock will be combined and reclassified into one
share of common stock and the total number of shares outstanding will be
reduced to approximately 18.5 million shares from approximately 92.4
million shares. The common stock will trade under its new symbol “NASM”
as announced by the Company on April 30, 2008.
About North American Scientific
North American Scientific, operating under the name NAS Medical, is a
leader in applying radiation therapy in the fight against cancer. Its
innovative products provide physicians with tools for the treatment of
various types of cancers. They include Prospera®
brachytherapy seeds and SurTRAK™ needles and
strands used primarily in the treatment of prostate cancer. In addition,
the Company has been gaining clinical experience with its first
generation ClearPath™ multi-channel catheter
breast brachytherapy devices since 2007, and intends to launch the
second generation devices in 2008. They are the only such devices
approved for both high dose and continuous release, or low dose,
radiation treatments. The devices are designed to provide flexible,
precise dose conformance and an innovative delivery system that is
intended to improve the delivery of brachytherapy for the treatment of
breast cancer. Please visit www.nasmedical.com
for more information.
Statements included in this release that are not historical facts may
be considered forward-looking statements that are subject to a variety
of risks and uncertainties. There are a number of important factors that
could cause actual results to differ materially from those expressed in
any forward-looking statements made by the Company including, but not
limited to, the impact of competitive products and pricing,
technological changes, changes in relationships with strategic partners
and dependence upon strategic partners for the performance of critical
activities under collaborative agreements, the ability of the Company to
successfully directly market and sell its products, uncertainties
relating to patent protection and regulatory approval, the stable supply
of appropriate isotopes, research and development estimates, market
opportunities, risks associated with strategic opportunities or
acquisitions the Company may pursue and the risk factors included in the
Company’s filings with the Securities and
Exchange Commission. Any forward-looking statements contained in this
news release speak only as of the date of this release, and the Company
undertakes no obligation to revise or update any forward-looking
statements, whether as a result of new information, future results or
otherwise.