VIMRx Announces Nasdaq National Market Listing Effective Dec. 31, 1996.
"We believe that moving to the National Market System will broaden investor access and increase trading flexibility for VIMRx shares," said Richard L. Dunning, President and Chief Executive Officer of VIMRx. All National Market stocks are technically eligible to trade on margin, although individual brokerages may impose minimum share price levels. "It is also an acknowledgement of the strong financial position we have achieved as a result of recent warrant redemption and private placement activities. In addition, we hope our shareholders will all recognize the extent to which the national listing is a positive step forward for the company, and in line with the progress we have demonstrated over the past several months."
VIMRx, based in Wilmington, DE, is currently developing two technology platforms: chemically synthesized hypericin, VIMRxyn(R), and through its ownership position in Innovir Laboratories, Inc., catalytically active Oligozymes. VIMRxyn(R) is currently in clinical development for the treatment of HIV and brain cancer and is in pre-clinical development for the treatment of hepatitis C and the sterilization of blood. The Oligozyme technology being developed by VIMRx through Innovir has potential uses both in attacking diseases at the genetic level, and as a broadly-applicable tool in pharmaceutical research to aid in drug target identification and validation. VIMRx also intends to be active in identifying and acquiring additional technologies and products.
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CONTACT: Walter Montgomery or John Quirk