1. NORTH AMERN SCIENTIFIC INC WKN: 923664 Potenzi
wikki 1 : 1. NORTH AMERN SCIENTIFIC INC WKN: 923664 Potenzi
North American Scientific, Inc. (Nasdaq:NASI) today announced that it received a letter from The Nasdaq Stock Market (?Nasdaq?) dated February 4, 2008 providing notice that the Company has demonstrated compliance with Nasdaq Marketplace Rules, and that the Nasdaq Listing Qualifications Panel has determined to continue the listing of the Company?s securities on Nasdaq. In addition, the Nasdaq Staff has approved the Company?s application to list its common stock on The Nasdaq Capital Market. The Company?s common stock will be transferred from The Nasdaq Global Market to The Nasdaq Capital Market effective February 6, 2008 and will continue to trade under the symbol ?NASI.?
Nasdaq Staff previously notified the Company that the bid price of its shares of common stock had closed at less than $1.00 per share over the previous 30 consecutive business days, and, as a result, it did not comply with Marketplace Rule 4450(a)(5). Therefore, in accordance with Marketplace Rule 4450(e)(2), the Company was provided 180 calendar days, or until April 2, 2008 to regain compliance. Upon transfer to The Nasdaq Capital Market, the Company will be afforded the remainder of this compliance period. The Nasdaq Staff also noted that if compliance with the $1.00 bid price requirement cannot be demonstrated by April 2, 2008, the Company may be afforded an additional compliance period, in accordance with Marketplace Rule 4320(e)(2)(E)(ii).
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® brachytherapy seeds and SurTRAK? needles and strands used primarily in the treatment of prostate cancer. In addition, the Company has been gaining clinical experience with its first generation ClearPath? multi-channel catheter breast brachytherapy devices in 2007, and intends to launch the second generation devices in 2008. They are the only such 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.
North American Scientific, Inc.:
Jim Klingler, CFO, (818) 734-8600
Steve DiMattia, (646) 201-5445