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ONI BioPharma (ONI) Offers Investor Update. Topics Include: (1) Appeal of AMEX Delisting Decision, (2) Operational Update and (3) Announcement of Investor Conference Call



11/3/2008 8:36:51 AM

ALACHUA, FL--(Marketwire - October 31, 2008) - Oragenics, Inc. d/b/a ONI BioPharma Inc. (AMEX: ONI) announced, that it received a letter from the NYSE Alternext US LLC* (formerly known as the American Stock Exchange, hereinafter the "Exchange" or "ASE"), on October 27, 2008 confirming the Exchange's intention to proceed with the filing of an application with the Securities and Exchange Commission ("SEC") to delist the common stock of the Company from the Exchange. The notice from the Exchange indicates that the ASE staff has decided that the Company does not meet the following continued listing standards under the ASE Company Guide: Section 1003(a)(ii) in that the Company's stockholders' equity is less than $4 million and it has sustained losses in three of its four most recent fiscal years. On October 31, 2008, the Company filed a request to appeal the Exchange's determination and requested a hearing before a panel of the Exchange.

Read at BioSpace.com


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