Celsion Corporation Makes Application for NASDAQ SmallCap Listing.Business/Technology Editors COLUMBIA, Md.--(BUSINESS WIRE)--March 9, 2000 Celsion Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CELN) today announced that it has applied for listing on the Nasdaq SmallCap market. Based on recent developments, the Company believes that it will meet all the financial and other requirements for listing. "Moving to the Nasdaq SmallCap market is a logical step for Celsion; a result of the steady progress the Company has made over the last couple of years," stated Spencer J. Volk, Celsion's President and Chief Executive Officer. "Through our relationships with medical centers and universities such as Duke University Medical Center and MIT MIT - Massachusetts Institute of Technology we have developed treatments for cancer and other diseases using focused microwave heat. The steady progress of our Phase I trials for both breast cancer and BPH BPH abbr. benign prostatic hyperplasia BPH Benign prostatic hypertrophy, a very common noncancerous cause of prostatic enlargement in older men. (benign prostatic hyperplasia benign prostatic hyperplasia n. Abbr. BPH A nonmalignant enlargement of the prostate gland commonly occurring in men after the age of 50, and sometimes leading to compression of the urethra and obstruction of the flow of urine. ) will move us closer to FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval. ." Volk continued, "The proposed listing on Nasdaq SmallCap will place Celsion in a new league of investment possibilities, including increased attention from analysts and greater exposure to the national and international investment community." While the Company believes that it has met all the necessary requirements, approval remains at the discretion of Nasdaq. About Celsion: Celsion Corporation is a research and development company dedicated to commercializing medical treatment systems for cancer and other diseases using focused heat technology delivered by patented microwave technology. Celsion has research or commercial associations with leading institutions such as Duke University, Harbor UCLA Medical Center UCLA Medical Center is a hospital located on the campus of the University of California, Los Angeles in Los Angeles, California. It is rated as one of the top three hospitals in the United States and is the top hospital on the West Coast according to US News & World Report. , MIT, and Montifiore Medical Center. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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