Date: May 01, 2003 Source: PR Newswire (
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Antares Pharma, Inc. (Nasdaq: ANTR) today announced that it has received a
notice from the Nasdaq Listing Qualifications Staff indicating that the
Company fails to comply with the stockholders' equity requirements for
continued listing set forth in Marketplace Rule 4310(c)(2)(B) and indicating
Nasdaq's intent to delist the Company's common stock from the Nasdaq SmallCap
Market effective at the opening of business on May 7, 2003. The Company has
appealed Nasdaq's determination by requesting an oral hearing before the
Nasdaq Listing Qualifications Panel. This hearing request will stay the
delisting of the Company's common stock pending the Listing Qualifications
Panel's decision.
About Antares Pharma
Antares Pharma develops pharmaceutical delivery systems, including needle-
free and mini-needle injector systems and transdermal gel technologies. These
delivery systems improve both the efficiency of drug therapies and the
patient's quality of life. The Company's needle-free injection systems are
currently available in more than 20 countries. In addition, Antares Pharma
has several products under development and is conducting ongoing research to
create new products that combine various elements of the Company's technology
portfolio. Antares Pharma has corporate headquarters in Exton, Pennsylvania,
with research and development facilities in Minneapolis, Minnesota, and Basel,
Switzerland.
Statements included in this press release that are not historical in
nature are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Antares Pharma cautions readers
that forward-looking statements are subject to certain risks and
uncertainties, which could cause actual results to differ materially and which
are identified from time to time in Antares Pharma's reports filed with the
U.S. Securities and Exchange Commission. Antares Pharma claims the protection
of the Safe Harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.
