ISELIN, N.J., Sept. 28, 2007 (PRIME NEWSWIRE) -- Pharmos Corporation (Nasdaq:PARS) today announced that it received notice on September 26, 2007 from The Nasdaq Stock Market that the minimum bid price of its common stock had fallen below $1.00 for 30 consecutive business days and that Pharmos was therefore not in compliance with Marketplace Rule 4310(c)(4). In accordance with the Nasdaq Marketplace Rule 4310(c)(8)(D), Pharmos has until March 24, 2008, which is 180 calendar days from September 26, 2007, to regain compliance. This notification has no effect on the listing of the Company’s common stock at this time.
