NYSE Amex Accepts RegeneRx Plan of Compliance |
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| Monday, 29 June 2009 16:04 |
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As previously disclosed, by letter dated April 24, 2009, the Exchange notified the Company that it was below certain of the Exchange’s continued listing standards due to having stockholders’ equity of less than $6,000,000 and losses from continuing operations and net losses in its five most recent fiscal years as set forth in Section 1003(a) of the Exchange’s Company Guide. The Company was afforded the opportunity to submit a plan of compliance for the Exchange Staff’s review demonstrating the Company’s ability to regain compliance with the relevant listing standards on or before October 25, 2010. The Company submitted its compliance plan on May 26, 2009. During the extension period, the Company will be subject to periodic review by the Exchange Staff to determine whether the Company is making progress consistent with its compliance plan. While the Company expects to timely satisfy the conditions of the Exchange’s determination, there can be no assurance that the Company will be able to do so, and any failure to make such progress consistent with the compliance plan or to regain compliance by October 25, 2010 could result in the Company’s common stock being delisted from the Exchange. During the extension period the Company’s common stock will continue to trade under the symbol “RGN” but this symbol is subject to the indicator extension “.BC” to denote the Company’s noncompliance with the Exchange’s listing standards. About RegeneRx Biopharmaceuticals, Inc. RegeneRx is focused on the discovery and development of novel peptides to accelerate tissue and organ repair. Currently, RegeneRx is developing three product candidates, RGN-137, RGN-259 and RGN-352 for dermal, ophthalmic, and cardiovascular tissue repair, respectively. RegeneRx is also developing RGN-457 for use in pulmonary indications such as cystic fibrosis. These product candidates are based on Tβ4, a synthetic copy of a 43-amino acid, naturally occurring peptide, in part, under an exclusive world-wide license from the National Institutes of Health. RegeneRx holds over 60 world-wide patents and patent applications related to novel peptides and is currently sponsoring three Phase II chronic dermal wound healing clinical trials (two of which were recently completed), a Phase II ophthalmic wound healing clinical trial (which RegeneRx is in the process of closing), and a Phase I parenteral (injectable) clinical trial supporting systemic delivery of RGN-352 for acute cardiovascular indications, which recently completed subject enrollment and dosing. RegeneRx Technology Background Tβ4 is a synthetic version of a naturally occurring peptide present in virtually all human cells. It is a first-in-class multi-faceted molecule that promotes endothelial cell differentiation, angiogenesis in dermal tissues, keratinocyte migration, collagen deposition, and down-regulates inflammation. RegeneRx has identified several molecular variations of Tβ4 that may affect the aging of skin, among other properties, and could be important candidates as active ingredients in pharmaceutical and consumer products. Researchers at the National Institutes of Health, and at other academic institutions throughout the U.S., have published numerous scientific articles indicating Tβ4’s in vitro and in vivo efficacy in accelerating wound healing and tissue protection under a variety of conditions. Abstracts of scientific papers related to Tβ4’s mechanisms of action may be viewed at RegeneRx’s web page: www.regenerx.com. BiomedReports is not paid or compensated to report news and developments about publicly traded companies. Full disclosure can be read in the About Us Section Add this page to your favorite Social Bookmarking websites            |
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