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Biotech / Medical : Receptagen Ltd.

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To: Paul Thomas who wrote (87)	5/2/1998 7:14:00 PM
From: Wizzer	Read Replies (1) of 203

ARTICLE ON RCG: Saturday, May 2, 1998 Trading in Receptagen held as CEO meets TSE officials By DREW HASSELBACK Vancouver Bureau The Financial Post The Toronto Stock Exchange has suspended trading in struggling Receptagen Ltd. of Edmonds, Wash. Ralph Shay, the exchange's vice-president of company listings and regulation, said Friday the suspension was because the company had failed to meet a minimum net capital requirement of $1 million and equity value of $10 million. Receptagen now has one year to meet the TSE's requirements. If it fails to do so, it will be delisted. President and chief executive Warren Wheeler was not available for comment Friday. Callers to the firm's head office were told he was in Toronto to discuss the suspension with TSE officials. The pharmaceutical firm has two subsidiaries developing drugs to treat cancer, stroke and AIDS. In March, the company announced it was calling off a $30-million merger with Scitech Genetics Ltd. of Singapore. Receptagen then said it was "very, very actively" pursuing an alternative financial agreement with a third party. Before the suspension Thursday, Receptagen shares (rcg/tse) last traded at 3.5«. Their 52-week range is 8« to 20«.

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