CARLSBAD, Calif., Oct. 24 /PRNewswire-FirstCall/ --
The Immune Response Corporation (Nasdaq: IMNRD) announced today a
determination by the Nasdaq Stock Market(R) to grant to the Company a 180-day
extension of the deadline by which the Company must comply with the continued
listing requirements of the Nasdaq SmallCap Market. The effect of the
Nasdaq's determination is to extend until April 21, 2003, the date by which
the Company's common stock must have a minimum bid price per share of at least
$1.00 for a minimum of 10 consecutive business days.
In July 2002, the Company submitted to Nasdaq an application to move its
stock listing from the Nasdaq National Market to the Nasdaq SmallCap Market.
Under interim rules adopted by Nasdaq on January 2, 2002, companies quoted on
the Nasdaq SmallCap Market, which did not comply with the $1.00 minimum bid
price requirement, were granted a 180-day grace period within which to comply.
With the grace period, the Company had until October 22, 2002, to achieve the
stock price minimum.
Co-founded by medical pioneer Dr. Jonas Salk and based in Carlsbad,
Calif., The Immune Response Corporation is a biopharmaceutical company
developing immune-based therapies designed to treat HIV, autoimmune diseases
and cancer. The Company also develops and holds patents on several
technologies that can be applied to genes in order to increase gene expression
or effectiveness, making it useful in a wide range of therapeutic applications
for a variety of disorders. Company information is available at
http://www.imnr.com .
This news release contains forward-looking statements. Actual results
could vary materially from those expected due to a variety of risk factors,
including, but not limited to, whether the Company can continue to meet the
Nasdaq listing requirements including the minimum price per share and the
minimum stockholders' equity amount, the adverse consequences of a Nasdaq
SmallCap listing on the liquidity, trading volume and volatility of the
Company's common stock and the number of market makers willing to trade in the
Company's common stock. These and other risks are discussed more thoroughly
in The Immune Response Corporation's SEC filings, including but not limited to
its report on Form 10-K for the year ended December 31, 2001 (as amended) and
report on Form 10-Q for the quarter ended June 30, 2002. The Company
undertakes no obligation to publicly release the result of any revisions to
these forward-looking statements, which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
REMUNE(R) is a registered trademark of The Immune Response Corporation.
SOURCE The Immune Response Corporation
 back to top
Related links:
http://www.imnr.com
CONTACT:
media, James Lee of The Lee Strategy Group,
+1-310-229-5771, or fax, +1-310-229-5772, jlee@leestrategy.com,
for The Immune Response Corporation; or investors, Kathy Lane of
The Immune Response Corporation, +1-760-771-2236, or fax,
+1-760-771-2140, info@imnr.com
|
