(Source: MARKETWIRE)
Marshall Edwards, Inc. (NASDAQ: MSHL), a specialist oncology company
focusing on the clinical development of novel anti-cancer
therapeutics, today announced that on September 16, 2009, as
management expected, the Company received a letter from The Nasdaq
Stock Market notifying the Company that for the last 30 consecutive
business days the bid price of the Company's common stock closed
below the minimum $1.00 per share requirement for continued inclusion
on the Nasdaq Global Market under Nasdaq Rule 5450(a)(1). According
to Nasdaq's letter, the Company will be afforded a grace period of
180 calendar days, or until March 15, 2010, to regain compliance in
accordance with Nasdaq Rule 5810(c)(3)(A). In order to regain
compliance, shares of the Company's common stock must maintain a
minimum bid closing price of at least $1.00 per share for a minimum
of ten consecutive business days during the grace period.
The Company intends to actively monitor the bid price of its common
stock between now and March 15, 2010.
About Marshall Edwards, Inc.
Marshall Edwards, Inc. is a specialist oncology company focused on
the clinical development of novel anti-cancer therapeutics. These
derive from a flavonoid technology platform, which has generated a
number of novel compounds characterized by broad ranging activity
against a range of cancer cell types with few side effects. The
combination of anti-tumor cell activity and low toxicity is believed
to be a result of the ability of these compounds to target an enzyme
present in the cell membrane of cancer cells, thereby inhibiting the
production of pro-survival proteins within the cell. Marshall
Edwards has licensed rights from Novogen Limited (ASX: NRT) (NASDAQ:
NVGN) to bring four oncology drugs -- phenoxodiol, triphendiol NV-143
and NV-128 -- to market globally.
Marshall Edwards is majority owned by Novogen, an Australian
biotechnology company that is specializing in the development of
therapeutics based on a flavonoid technology platform. Novogen is
developing a range of therapeutics across the fields of oncology,
cardiovascular disease and inflammatory diseases. More information
on phenoxodiol and on the Novogen group of companies can be found at
www.marshalledwardsinc.com and www.novogen.com.
Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by the FDA as being safe
and effective for the intended use. Statements included in this press
release that are not historical in nature are "forward-looking
statements" within the meaning of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. You should be aware
that our actual results could differ materially from those contained
in the forward-looking statements, which are based on management's
current expectations and are subject to a number of risks and
uncertainties, including, but not limited to, our failure to
successfully commercialize our product candidates; costs and delays
in the development and/or FDA approval, or the failure to obtain such
approval, of our product candidates; uncertainties in clinical trial
results; our inability to maintain or enter into, and the risks
resulting from our dependence upon, collaboration or contractual
arrangements necessary for the development, manufacture,
commercialization, marketing, sales and distribution of any products;
competitive factors; our inability to protect our patents or
proprietary rights and obtain necessary rights to third party patents
and intellectual property to operate our business; our inability to
operate our business without infringing the patents and proprietary
rights of others; general economic conditions; the failure of any
products to gain market acceptance; our inability to obtain any
additional required financing; technological changes; government
regulation; changes in industry practice; and one-time events. We do
not intend to update any of these factors or to publicly announce the
results of any revisions to these forward-looking statements.
CONTACTS:
Warren Lancaster
+1-203-966-2556 (USA)
Email Contact
David Sheon
+1 202 547-2880 (USA)
Email Contact
SOURCE: Marshall Edwards, Inc.
A service of YellowBrix, Inc.
