VIA Pharmaceuticals, Inc. Receives Delisting Notification From The Nasdaq Stock Market -- New York

SAN FRANCISCO, Dec. 29 /PRNewswire-FirstCall/ -- VIA Pharmaceuticals, Inc. (Nasdaq: VIAP), a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease, today announced that on December 29, 2009, it received a written notice from the listing qualifications staff of the NASDAQ Stock Market ("NASDAQ") informing the Company that trading of the Company's common stock would be suspended prior to the open of business on January 4, 2010 and that NASDAQ would initiate procedures to delist the Company's common stock. The Company had notified NASDAQ on December 23, 2009 that the Company would be unable to comply with NASDAQ listing rule 5550(b), which requires a minimum stockholders' equity requirement of $2.5 million, and NASDAQ listing rule 5605, which requires, among other things, that the Company's board of directors be comprised of at least a majority of independent directors and that the Company's audit committee be comprised of at least three independent directors. The Company does not intend to appeal the determination of NASDAQ with respect to the delisting of its common stock.