Immunicon Corporation Announces Quotation of Common Stock on Over-the-Counter Bulletin Board
April 29 2008 - 6:30AM
Business Wire
Immunicon Corporation (NASDAQ-CM:IMMC) announced today that,
effective as of today�s date, its common stock began quotation on
the Over-the-Counter Bulletin Board. As disclosed previously,
Immunicon had received notification from The NASDAQ Stock Market
indicating that trading in Immunicon�s common stock would be
suspended and Immunicon�s common stock would be delisted from The
NASDAQ Capital Market at the opening of business on April 29, 2008,
unless Immunicon appealed NASDAQ�s determination. 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. 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 are those 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.
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