SOUTH SAN FRANCISCO, Calif., Dec. 19 /PRNewswire-FirstCall/ -- Anesiva,
Inc. (Nasdaq: ANSV), a specialty pain management company, announced today that
consistent with its recent announcement of a positive Phase 3 clinical trial
for Adlea(TM) and to focus on this asset by going to a virtual company model,
five members of the company's Board of Directors have resigned, reducing the
number of Directors to five.
The Board accepted the resignations of Thomas J. Colligan, Carter H.
Eckert, James A. Harper and Robert L. Zerbe from the Anesiva Board of
Directors on December 16, 2008. The Board accepted the resignation of James N.
Campbell on December 19, 2008. Mr. Colligan's and Mr. Eckert's resignations
reduced the number of members of the Audit Committee of the Board of Directors
to one. On December 16, 2008, the company notified the Nasdaq Stock Market,
Inc., of its non-compliance with Nasdaq Marketplace Rule 4350(d) which in part
requires at least three members on the audit committee. On December 18, 2008,
Nasdaq confirmed that the company was not in compliance with Nasdaq's audit
committee requirements.
On December 19, the Board of Directors appointed Rodney A. Ferguson, who
joined Anesiva's Board of Directors as Chairman in November 2000, to the Audit
Committee. As a result, the company notified Nasdaq on December 19, 2008 of
Dr. Ferguson's appointment to fill a vacancy on the audit committee and
believes that it is eligible for the cure period provided in Nasdaq
Marketplace Rule 4350(d)(4)(B).
'The company is grateful for the counsel provided by Mr. Colligan, Mr.
Eckert, Mr. Harper, Dr. Zerbe and Dr. Campbell, and for their active
membership on the Anesiva Board of Directors to help us reach our ACTIVE-2
positive Phase 3 clinical trial outcome of Adlea(TM) in total knee
arthroplasties,' said Anesiva's President and CEO Michael L. Kranda.
'We thank the departing Board members for their contributions and valued
service to the company,' said Board Chairman Rodney A. Ferguson. 'As Anesiva
focuses on the continued development of Adlea(TM), our novel, non-opioid
product candidate for the management of acute pain following orthopedic
surgeries, and transitions to a virtual company model, I am pleased to
continue leading the Board, working with company management and participating
as a member of the audit committee to move the company forward.'
About Anesiva
Anesiva, Inc.
