SAN FRANCISCO, May 12 /PRNewswire-FirstCall/ -- Nile Therapeutics today announced that it has received notification from The NASDAQ Stock Market that its common stock has been approved for listing on The NASDAQ Capital Market under the symbol "NLTX." Nile anticipates trading of its securities on NASDAQ to commence on Tuesday, May 13th. Until that time, the Company's common stock will continue to trade on the OTC Bulletin Board(R) under the symbol "NILT.OB."
About Nile Therapeutics
Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical need. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel chimeric natriuretic peptide in clinical studies for the treatment of heart failure, and 2NTX-99, a small molecule, pre-clinical, anti-atherothrombotic agent with nitric oxide donating properties. A key component of the company's strategy is to acquire the global rights to additional compounds to expand its portfolio. More information on Nile can be found at www.nilethera.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, outlook, milestones, the success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. We may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that we make are described in greater detail in the reports we file with Securities and Exchange Commission, including the "Risk Factors" section in Item 1 of the Form 10-KSB we filed with the Securities and Exchange Commission on March 27, 2008. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.
CONTACT: Daron Evans, Chief Financial Officer of Nile Therapeutics, Inc.,
+1-415-875-7880, info@nilethera.com
Web site: http://www.nilethera.com/
