NEWTON, Mass.--(BUSINESS WIRE)--Matritech (Amex: MZT), a leading marketer and developer of protein-based diagnostic products for the early detection of cancer, today announced that the American Stock Exchange (AMEX) has accepted the Company’s plan to regain compliance with continued listing standards of AMEX. Matritech’s plan was submitted in response to a letter from AMEX dated September 21, 2006 in which AMEX informed the Company that it was not in compliance with certain continued listing standards, specifically, Section 1003(a)(i) of the Company Guide with shareholders’ equity of less than $2,000,000 and losses from continuing operations and/or net losses in two of its three most recent fiscal years, Section 1003(a)(ii) of the Company Guide with shareholders’ equity of less than $4,000,000 and losses from continuing operations and/or net losses in three of its four most recent fiscal years, and Section 1003(a)(iii) with shareholders’ equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years. The Company was afforded the opportunity to submit a plan of compliance and it did so on October 23, 2006.
