Thursday January 7, 8:36 AM (EST)
Ostex International, Inc. Announces Stock Repurchase Plan
SEATTLE (Jan. 7) BW HEALTHWIRE -Jan. 7, 1999--Ostex International, Inc. (Nasdaq:OSTX) announced today that its board of directors has authorized a share repurchase program authorizing the company to purchase up to 1,000,000 shares of Ostex' outstanding common stock.
Such stock repurchases will be executed in open market transactions on Nasdaq, subject to regulatory considerations and market conditions and at such prices and times as the company determines are in the best interests of Ostex' shareholders.
Thomas A. Bologna, Ostex president & CEO, stated, "The board's decision to implement a stock repurchase program reflects our confidence in the company, including its competitive position in the industry and future growth potential. We are convinced that recent common stock prices do not represent Ostex' intrinsic value."
Ostex International is engaged in the discovery and commercialization of products associated with osteoporosis and other collagen-related diseases. The company's lead product, the Osteomark(R) NTx test, incorporates breakthrough and patented technology in the area of bone resorption measurement.
Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, pricing, market acceptance of the Osteomark test, changing economic conditions, the actions of competitors, the effect of the company's accounting policies, receiving FDA clearance for the company's new products and other risk factors detailed in the company's SEC filings.
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CONTACT: Ostex International, Inc.
Thomas Bologna, 206/292-8082
tbologna@ostex.com
or
Lippert/Heilshorn & Associates
Lillian Armstrong/Adam Aron, 415/433-3777
adam@lhai.com
KEYWORD: WASHINGTON
INDUSTRY KEYWORD: BANKING MEDICINE BIOTECHNOLOGY
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