LEXINGTON, Mass.--(BUSINESS WIRE)--EPIX Pharmaceuticals, Inc. (NASDAQ: EPIX) a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform today announced that it has received notice from the NASDAQ Listing Qualifications Panel (the “Panel”) indicating that the Panel has determined to grant the Company’s request for continued listing on The NASDAQ Global Market, subject to the condition that on or before May 11, 2009, the company files a Current Report on Form 8-K with the Securities and Exchange Commission, evidencing its compliance with NASDAQ Marketplace Rule 4450(b)(1)(A). NASDAQ Marketplace Rule 4450(b)(1)(A) requires the company to maintain a shareholders’ equity of at least $10 million or a minimum market value of listed securities of $50 million. EPIX is taking steps to comply with the terms of the Panel decision; however, there can be no assurance that the company will be able to do so.
