10/19/2005 5:09:57 PM
RALEIGH, N.C.--(BUSINESS WIRE)--May 17, 2005--PharmaNetics, Inc. (PHAR.OB) announced today that it has filed a Form 15 to deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, effective immediately upon such filing on May 13, 2005. As a result of the filing of the Form 15, the Company's obligation to file with the SEC virtually all reports and forms, including its quarterly and annual reports, has terminated. In addition, the common stock of the Company will no longer be quoted on the OTC Bulletin Board. Deregistration will significantly reduce the information PharmaNetics must disclose to shareholders and the SEC.
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