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Samaritan Pharmaceuticals, Inc. (OTC BB:SPHC.OB)
announced today that on April 3, 2007, the American Stock
Exchange (``AMEX'') notified Samaritan Pharmaceuticals, Inc.
that its listing on the AMEX exchange is being continued pursuant
to an extension with a plan completion date of May 31, 2007,
which encompasses the due date for Samaritan's quarterly Report
(Form 10-Q) for the period ending March 31, 2007 to demonstrate
that it has regained compliance with the continued listing
standards in Section 1003(a)(ii) and (iii) of the AMEX Company
Guide. The company must also address Section 1003(f)(v) of
the AMEX Company guide.
Previously on November
6, 2006 and on January 30, 2007 , the AMEX Listing Qualifications
staff notified the Company it no longer complies with Exchange's
continued listing standard due to its shareholder's equity
of less than $4 million and losses from continuing operations
and/or losses in three out of its four most recent fiscal
years, as set forth in Section 1003(a)(ii) of the Company
guide; with its shareholder's equity of less than $6 million
from continuing operations and/or net losses in its five most
recent fiscal years, as set forth in Section 1003(a)(iii)
of the Company Guide; and with its low selling price, as set
forth in Section 1003(f)(v) of the Company guide.
About Samaritan
Samaritan is a small-cap biotech, driven to discover,
develop and commercialize innovative therapeutics for AIDS,
Alzheimer's, cancer and heart disease patients. Look at http://www.samaritanpharma.com.
Please register on the Website so the Company can notify you
of upcoming conference calls, news and events.
Samaritan
Pharmaceuticals: ``We LIV... to Save Lives.''
The company disclaims
any information that is created by an outside party and endorses
only information that is communicated by its press releases,
filings and Website. This news release contains forward-looking
statements that reflect management's current beliefs about
the potential for its drug candidates, science and technology.
However, as with any biopharmaceutical under development,
there are significant risks and uncertainties in the process
of development and regulatory review. There are no guarantees
that products will prove to be commercially successful. For
additional information about the factors that affect the company's
business, please read the company's latest Form 10-K/A filed
November 2, 2006. The company undertakes no duty to update
forward-looking statements.
Contact:
The Investor Relations Group
Investor Relations:
Adam Holdsworth
Erica Ruderman
Rachel Colgate
212-825-3210
Samaritan
Pharmaceuticals, Inc.
Kristi Eads
702-735-7001
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AMEX
Panel Grants Samaritan Continued AMEX Listing Pursuant to
May 31st Extension to Allow for 10Q Filing Demonstrating It
Has Regained Compliance
