North American Scientific Receives Notice of Nasdaq Listing Hearing.
CHATSWORTH, Calif. -- North American Scientific, Inc. (Nasdaq:NASI) today announced that it received a letter from The Nasdaq Stock Market ("Nasdaq") dated October 19, 2007 providing formal notice that the Nasdaq Listing Qualifications Panel will consider the Company's appeal of Nasdaq's delisting action announced by the Company on October 16, 2007 at a hearing scheduled for November 29, 2007.
The letter states that the delisting action will be stayed pending the issuance of a written determination by a Nasdaq Listing Qualifications Panel. The Company's common stock will remain quoted on The Nasdaq Global Market pending the outcome of the appeal under its current symbol "NASI".
While the Company is working diligently to meet the requirements for continued listing on The Nasdaq Global Market as promptly as possible, the Company can provide no assurances that a Nasdaq Listing Qualifications Panel will grant the Company's request for continued listing on The Nasdaq Global Market.
About North American Scientific
North American Scientific is a leader in radiation therapy in the fight against cancer. Its innovative products provide physicians with tools for the treatment of various types of cancers. They include Prospera[R] brachytherapy seeds and SurTRAK[TM] needles and strands used primarily in the treatment of prostate cancer. In addition the Company plans to commercialize its ClearPath[TM] multi-channel catheter breast brachytherapy devices in 2007, which are the only devices approved for both high dose and continuous release, or low dose, radiation treatments. The devices are designed to provide flexible, precise dose conformance and an innovative delivery system that is intended to offer the more advanced form of brachytherapy for the treatment of breast cancer. Please visit www.nasmedical.com for more information.
Statements included in this release that are not historical facts may be considered forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company including, but not limited to, the impact of competitive products and pricing, technological changes, changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements, the ability of the Company to successfully directly market and sell its products, uncertainties relating to patent protection and regulatory approval, the stable supply of appropriate isotopes, research and development estimates, market opportunities, risks associated with strategic opportunities or acquisitions the Company may pursue and the risk factors included in the Company's filings with the Securities and Exchange Commission. Any forward-looking statements contained in this news release speak only as of the date of this release, and the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future results or otherwise.
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|Date:||Oct 22, 2007|
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