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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Rosen who wrote (6317)	4/13/1999 8:09:00 AM
From: Linda Kaplan	Read Replies (1) \| Respond to of 7041

Here's the news release about the law suit now: Headline: Zonagen Announces Dismissal of Class Action Lawsuits ====================================================================== THE WOODLANDS, Texas--(BUSINESS WIRE)--April 13, 1999--Zonagen Inc. (NASDAQ:ZONA)(Pacific:ZNG) today announced that the U.S. District Court, Southern District of Texas has dismissed with prejudice the class action lawsuits filed against the Company which had been consolidated on May 29, 1998. The lawsuits alleged that the Company and certain of its directors and officers violated the federal securities laws by making false and misleading statements about the patents and patent applications relating to Vasomax(R) and ImmuMax, and about the Company's clinical trials of Vasomax(R). The Court ruled that the lawsuits failed to state a claim under the federal securities laws. Zonagen Inc. is engaged in the development of pharmaceutical products for the reproductive system, including sexual dysfunction, urology, contraception and infertility. A copy of this press release may be obtained via facsimile by dialing 1-888-329-0920 or via the Internet by accessing zonagen.com. Any statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to those relating to the uncertainties related to the Company's early stage of development, clinical trial results and FDA approval in the U.S. and approval of regulatory authorities in other jurisdictions, substantial dependence on one product, history of operating losses, future capital needs and uncertainty of additional funding, uncertainty of protection for patents and proprietary technology, litigation, governmental regulation, limited sales and marketing experience and dependence on collaborators, manufacturing uncertainties and reliance on third parties, competition and technological change, product liability and availability of insurance, and other risks identified in the Company's Annual Report on Form 10-K for the year ended December 31, 1998, as filed with the Securities and Exchange Commission. CONTACT: Zonagen Inc., The Woodlands Jean Anne Mire, 281/719-3491 KEYWORD: TEXAS INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICINE PHARMACEUTICAL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1999, Business Wire