IRVINE, Calif., Feb. 20 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. today announced that it received notification from The NASDAQ Stock Market that the Company has regained compliance with NASDAQ Marketplace Rule 4450(a)(5), which requires listed companies to maintain a closing bid price of at least $1.00 per share.
On February 19, 2008, the closing price of the Company’s common stock was $3.14 per share.
About IDM Pharma
IDM Pharma is focused on the development of innovative cancer products that either destroy cancer cells by activating the immune system or prevent tumor recurrence by triggering a specific adaptive immune response. IDM Pharma is dedicated to maximizing the full therapeutic and commercial potential of each of its innovative products to address the needs of patients and the physicians who treat these patients.
For more information about the company and its products, visit http://www.idm-pharma.com.
Forward-Looking Statements
This press release includes forward-looking statements that reflect management’s current views of future events including statements regarding the Company’s ability to comply with the minimum bid price requirements under the NASDAQ Marketplace Rules. Actual results may differ materially from the forward-looking statements due to a number of important factors, including, but not limited to, whether the Company will be able to maintain a closing bid price of $1.00 per share or higher and risks relating to the Company’s ability to comply with other NASDAQ requirements. Other risks affecting the Company and its drug development programs are more fully discussed in the Company’s Quarterly Report on Form 10-Q filed with the SEC for the quarter ended September 30, 2007 and other periodic reports filed with the SEC. The Company expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
CONTACT: Bob De Vaere, Chief Financial Officer of IDM Pharma, Inc.,
+1-949-470-6447; or Geoff Curtis of WeissComm Partners, +1-312-550-8138,
gcurtis@wcpglobal.com, for IDM Pharma, Inc.
Web site: http://www.idm-pharma.com/
