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PHARMAKINETICS LABORATORIES, INC., ANNOUNCES ITS COMMON STOCK DELISTED FROM NASDAQ TRADING SYSTEM

 PHARMAKINETICS LABORATORIES, INC., ANNOUNCES ITS COMMON STOCK
 DELISTED FROM NASDAQ TRADING SYSTEM
 BALTIMORE, Dec. 20 /PRNewswire/ -- Pharmakinetics Laboratories, Inc. (NASDAQ: PKLBQ), announced that its common stock, trading under the symbol PKLBQ, has been delisted from quotation in the National Association of Securities Dealer's Automated Quotation System (NASDAQ) effective today. The company has been trading via an exception from the capital and surplus requirements. Following a hearing on Dec. 17, 1991, the company was notified yesterday that the company's request for a continued exception to the capital and surplus requirement has been denied. Accordingly, the securities of the company were delisted from the NASDAQ Stock Market effective Dec. 20, 1991.
 While the company believes that execution of its plan of reorganization in Chapter 11 bankruptcy will result in compliance with this and other current requirements of listing, there can be no assurances that the company will do so. The company intends to file its plan with the bankruptcy court in the near future and to reapply for listing on the NASDAQ system as soon as possible.
 Although the securities of PharmaKinetics Laboratories, Inc., have ceased to be quoted on the NASDAQ system, they should continue to be quoted in the over-the-counter market.
 PharmaKinetics Laboratories, Inc., is a leading drug development company providing services to pharmaceutical and biotechnology firms seeking new drug approvals in the United States and Europe.
 -0- 12/20/91
 /CONTACT: Taryn L. Kunkel, vice president and chief financial officer, PharmaKinetics, 301-385-4500/
 (PKLBQ) CO: PharmaKinetics Laboratories, Inc. ST: Maryland IN: MTC SU:


SB -- DC001 -- 4256 12/20/91 09:42 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 20, 1991
Words:262
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