Bioject to Be Transferred to the over-the-Counter Bulletin Board.PORTLAND, Ore. -- Bioject Medical Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BJCT), a leading developer of needle-free injection therapy systems, today announced that it has received notification from The NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. LLC that the NASDAQ Listing Qualifications Panel has determined to delist the Company's securities from The NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for . The Panel's decision was based on the fact that the Company has not regained compliance with NASDAQ's $1.00 per share bid price requirement. Accordingly, trading in the Company's common stock will be transferred to the Over-the-Counter Bulletin Board (the "OTCBB OTCBB See OTC Bulletin Board (OTCBB). "), an electronic quotation service Electronic Quotation Service An Internet-based quotation service operated by Pink Sheets LLC for brokers and market makers of over-the-counter equities and bonds. maintained by the Financial Industry Regulatory Authority Not to be confused with NASD. In the United States, the Financial Industry Regulatory Authority (FINRA) is a new self-regulatory organization (SRO) under the Securities Exchange Act of 1934, successor to the National Association of Securities Dealers, Inc. (NASD). , effective with the open of the market on July 23, 2008. The symbol will remain BJCT. "While today's financial market conditions are challenging, the Company remains highly committed to working on our core fundamentals and pursuing our new business strategy," said Ralph Makar mak·ar n. Chiefly Scots A poet. [Middle English, variant of maker, maker, poet.] , President and CEO of Bioject. "We look forward to sharing more information during our next earnings call." About Bioject Bioject Medical Technologies Inc., based in Portland, Oregon, is an innovative developer and manufacturer of needle-free injection therapy systems (NFITS). NFITS provide an empowering technology and works by forcing medication at high speed through a tiny orifice held against the skin. This creates a fine stream of high-pressure fluid penetrating the skin and depositing medication in the tissue beneath. The Company is focused on developing mutually beneficial agreements with leading pharmaceutical, biotechnology, and veterinary companies. For more information about Bioject, visit www.bioject.com. About the OTCBB The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in OTC equity securities. An OTC equity security generally is any equity that is not listed or traded on a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs. More information is available at http://www.otcbb.com. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, regarding quotation on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. The Company assumes no obligation to update forward-looking statements if conditions or management's estimates or opinions should change. For more information about Bioject, visit www.bioject.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion