RESEARCH TRIANGLE PARK, N.C., Dec. 15 /PRNewswire-FirstCall/ -- Icoria,
Inc. (Nasdaq: ICOR), a biotech company using systems biology to discover new
biomarkers to enhance drug and agrichemical discovery and development,
announced today that its application to transfer the listing of its common
stock from the Nasdaq National Market to the Nasdaq SmallCap Market has been
approved by the Staff of the Nasdaq Stock Market. The transfer is effective
at the opening of business on December 17, 2004.
The Nasdaq SmallCap Market is fully automated, provides real-time trade
reporting and is a marketplace for more than 600 companies. Securities listed
on both the Nasdaq National Market and Nasdaq SmallCap Market share a unified
order entry system. There will be no change in the way Icoria shares are
traded as a result of the listing transfer, and the transfer will not have an
effect on shareholders' ability to purchase and sell Icoria's common stock.
Icoria's stock symbol remains ICOR.
Icoria is making the transfer at this time because its minimum bid price
continues to be below the Nasdaq National Market's listing requirements.
Pursuant to the rules of the National Association of Securities Dealers,
Icoria expects that it will be granted until June 20, 2005, to attempt to
regain compliance with the minimum bid price requirements of the Nasdaq Stock
Market.
About Icoria
Icoria, Inc. is a biotech company dedicated to deciphering the complexity
of biological processes through the application of systems biology to identify
biomarkers for drug discovery and development, diagnostics and to develop
novel agrichemicals. Icoria has major contracts with the National Institute of
Environmental Health Sciences, the Monsanto Company and Pioneer Hi-Bred
International (a subsidiary of DuPont). Icoria also has a major grant from
the National Institute of Standards & Technology's Advanced Technology
Program. For more information, visit http://www.icoria.com .
This press release contains forward-looking statements, including
statements regarding the Company's expectations for future revenue, new
business opportunities and use of its systems biology platform. Such forward-
looking statements are based on management's current expectations and are
subject to a number of risks, factors and uncertainties that may cause actual
results, events and performance to differ materially from those referred to in
the forward-looking statements. These risks, factors and uncertainties
include, but are not limited to, Icoria's early stage of development, history
of net losses, technological and product development uncertainties, reliance
on research collaborations, uncertainty of additional funding and ability to
protect its patents and proprietary rights. Certain of these and other risks
are identified in Icoria's annual report on Form 10-K for the year ended
December 31, 2003 and in its quarterly report on Form 10-Q for the quarter
ended September 30, 2004, each filed with the Securities and Exchange
Commission. The Company does not intend to update any of the forward-looking
statements after the date of this release to conform these statements to
actual results or to changes in our expectations, except as may be required
by law.
SOURCE Icoria, Inc.
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Related links:
http://www.icoria.com
CONTACT:
Media-Public Relations of Icoria, Inc.,
+1-919-425-2999; or Brian Ritchie or Mark Vincent of EURO RSCG
Life NRP, +1-212-845-4200
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