LAKE OSWEGO, Ore., Feb. 16 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation announced today that on February 14, 2006 the American Stock Exchange (the “Exchange”) notified the Company that it had set March 13, 2006 as the date for a hearing to review the Exchange staff’s determination to delist the Company’s common stock from trading on the Exchange. The Company had requested a hearing by a Listing Qualifications Panel of the Exchange to appeal the staff’s determination by letter dated February 9, 2006. There can be no assurance that the Company’s appeal will result in the continued listing of its common stock on the Exchange. If its common stock is delisted from the Exchange after the hearing, it would likely trade on the NASD Over the Counter Bulletin Board.
About Calypte Biomedical:
Calypte Biomedical Corporation is a US-based healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases. Calypte specializes in novel tests such as the HIV-1 BED Incidence EIA and is engaged in developing and commercializing new diagnostic test products for the rapid detection of HIV and other sexually transmitted diseases, several of which do not require blood samples. Calypte believes that there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in lesser-developed countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management’s current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company’s ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-KSB/A (No. 1) for the year ended December 31, 2004 and its subsequent filings with the SEC.
Company Contact: Investor Relations Contact: Theodore R Gwin, Tim Clemensen Chief Financial Officer, Rubenstein Investor Relations (971) 204-0282 Phone: (212) 843-9337 email: tgwin@calypte.com email: tclemensen@rubensteinir.com
Calypte Biomedical Corporation
CONTACT: Theodore R Gwin, Chief Financial Officer, Calypte BiomedicalCorporation, +1-971-204-0282, tgwin@calypte.com; or Tim Clemensen ofRubenstein Investor Relations, +1-212-843-9337, tclemensen@rubensteinir.com
Web site: http://www.calypte.com/
