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Biotech / Medical : CNSI Cambridge Neuroscience -- Ignore unavailable to you. Want to Upgrade?

To: W Shakespeare who wrote (410)	10/16/1998 9:26:00 AM
From: BlueCheap	Read Replies (1) \| Respond to of 675

Friday October 16, 8:29 am Eastern Time Company Press Release SOURCE: Cambridge NeuroScience, Inc. Cambridge NeuroScience Stays Delisting By Requesting Nasdaq Hearing CAMBRIDGE, Mass., Oct. 16 /PRNewswire/ -- Cambridge NeuroScience, Inc. (Nsdaq: CNSI) today announced that at the request of the Company, The Nasdaq Stock Market Inc. (''Nasdaq'') has scheduled a hearing before its appeal panel to discuss the continued listing of the Company's common stock on the Nasdaq National Market System. Until the hearing on November 12, 1998, CNSI's common stock will continue to trade on the Nasdaq National Market without restriction. As previously reported, on June 29, 1998 Nasdaq notified the Company that it was not in compliance with Nasdaq's $1.00 minimum bid price requirement, and that the Company was being provided 90 days to regain compliance. The Company was not able to meet this requirement within the ninety-day period and requested a hearing to stay delisting. Based on the outcome of this hearing, the Company may be granted a temporary stay of delisting or the shares may commence trading on the OTC Bulletin Board. Cambridge Neuroscience is a neuroscience company engaged in the discovery and development of proprietary pharmaceuticals focusing on nerve cell survival. The Company is developing a number of products to treat stroke, traumatic brain injury and chronic neurodegenerative disorders such as multiple sclerosis, peripheral neuropathies and other degenerative diseases. This news release may contain forward-looking statements based on the current expectations of management. There are certain important factors that could cause results to differ from those anticipated by the statements made above, including, but not limited to: the Company's ability to continue operations and achieve profitability; the early stage of development of the Company's product candidates; the Company's reliance on current and prospective collaborative partners to supply fund for research and development and to commercialize its products; technical risks associated with the development of new products; and, the competitive environment of the biotechnology industry. SOURCE: Cambridge NeuroScience, Inc.