EXTON, Pa., Aug. 14 /PRNewswire-FirstCall/ -- Isolagen(TM), Inc. today announced that on August 14, 2008 it received notice from the American Stock Exchange (AMEX) advising the Company that its previously submitted plan of compliance demonstrates a reasonable course of action by the Company to regain compliance with AMEX’s continued listing standards, and that the delisting hearing previously scheduled for August 19, 2008 has been canceled.
AMEX indicated that its decision was based upon the information disclosed in the Company’s August 5, 2008 press release regarding the positive top-line results from the Company’s two pivotal, Phase III clinical studies. The Company’s previously submitted plan of compliance outlined its strategy to regain its compliance with AMEX’s continued listing standards by September 14, 2009.
About Isolagen, Inc.
Isolagen(TM), Inc. is an aesthetic and therapeutic company committed to developing and commercializing scientific advances and innovative technologies. The company’s technology platform includes the Isolagen Process(TM), a cell processing system for skin and tissue rejuvenation which is currently in clinical development for a broad range of aesthetic and therapeutic applications including wrinkles, acne scars, burns and periodontal disease. Isolagen also commercializes a scientifically-advanced line of skincare systems through its majority-owned subsidiary, Agera(R) Laboratories, Inc. For additional information, please visit www.isolagen.com.
Isolagen Forward Looking Statements
All statements in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release, include, without limitation, the outcome of Amex’s periodic review of the Company’s plan of compliance and Amex’s willingness to permit continued listing during the pendency of the plan. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward- looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2007, as updated in “Item 1A. Risk Factors” in the Company’s Quarterly Reports on Form 10-Q filed since the annual report. We operate in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company’s Annual Report on Form 10-K for the year ended December 31, 2007, as well as other public filings with the SEC since such date.
CONTACT: Mike Beyer for Isolagen, Inc., +1-773-463-4211,
beyer@sambrown.com
Web site: http://www.isolagen.com/
