Pro-Pharmaceuticals, Inc. Terminates Financing Agreement

NEWTON, Mass.--(BUSINESS WIRE)--Pro-Pharmaceuticals, Inc. (Amex: PRW), a company “Advancing Drugs Through Glycoscience®”, today announced that the Securities Purchase Agreement between the Company and the investors was terminated following the American Stock Exchange’s notice that the Company is not in compliance with certain listing standards. The Company believes that a proposed new pricing, based on the current trading price of its common stock, would be excessively dilutive and not in the best interest of its shareholders. The Company is evaluating other financing alternatives.